In 2023, the IMA Group reaffirmed its momentum of profitable growth, in line with its Strategic Plan and its longstanding commitment to social responsibility

HIGHLIGHTS OF 2023
1) Financial results in line with the Group’s performance trajectory
2) A Group that meets the expectations of its beneficiaries and is preparing for the future of care
3) An international strategy focused on high-potential markets that continues to bear fruit
4) A Group that fulfills its social and societal commitments 

Against the backdrop of a recovery that remains challenging due to the global geopolitical situation and economic pressures (e.g., inflation, shortages of materials and labor), the IMA Group has once again demonstrated its resilience and ability to adapt.
 

Driven by organic growth and business development, the IMA Group reported revenue of €942 million, an increase of 8.2% (+€72 million) compared to the 2022 pro forma results1, with net income of €25.6 million, an increase of 18% (pro forma).  
 

Revenue from business conducted on behalf of shareholders amounted to €641 million, up 7% (+€42 million), while the Group’s commercial business grew by 8% (+€30 million, including €13.3 million in France). The Group’s revenue, which includes claims expenses managed under mandate by IMH (Inter Mutuelles Habitat) and its international subsidiaries, amounted to €1,390 million. The Group’s profitability, excluding investments in innovation, stands at 2.9%.

These figures reflect the transformation of the Group’s business model. Indeed, as of January 1, 2023, the IMA Group has become the reinsurer of its shareholders’ assistance risk. Insurance premiums now total €676.1 million, compared to €160.4 million in 2022. In this context, the Group’s equity, bolstered by its shareholders, amounts to €372.8 million, resulting in a capital adequacy ratio of 137%.

The need for assistance remains as pressing as ever, with more than 3.5 million cases

Both in France and internationally, business in 2023 continues to be shaped by the impacts of weather events, less predictable travel patterns, and strains within the supplier network (shortages of materials and labor, rising prices, etc.).

In France, a new division dedicated to mobility, wellness, and medical services 

In 2023, the Group’s operational structure underwent a major change with the creation of IMA Assistance France, which consolidates the Mobility, Wellness, and Medical assistance operations for France (shareholders and customers). This entity handled nearly 2.3 million cases, representing a 2.9% increase, and employed more than 520 seasonal workers in Niort and Rouen. 

IMA, the leading partner to automakers in France

In 2023, the Group Mobility Assistance business (General/Medical/Manufacturer Assistance) grew by 2.2% compared to the previous year. This increase is primarily due to growth in business for its shareholders, the renewal of its Manufacturer Assistance business for the Renault and Stellantis Groups in France, and the addition of new partners (Hyundai).

IMA at the forefront of new mobility solutions
As the mobility sector undergoes profound changes, the Group continues to invest in the evolution of its offerings to address new challenges. Still the leader in France for electric vehicle assistance, it is adapting to new trends by offering assistance services for sustainable mobility (bicycles, scooters, etc.) in partnership with new clients and distributors such as FNAC Darty and Decathlon, for example. The Group also addresses beneficiaries’ purchasing power constraints with its Maintenance offering, which compares quotes from auto repair shops. Furthermore, it offers innovative solutions that give members the freedom to choose their assistance options in France or Italy via an app within a fixed-budget framework (“Mobility as a Service”). 

Homeowners Insurance Remains on the Front Lines in the Fight Against Climate Change 
Despite milder weather through the fall, home insurance claims activity remained high. In November, storms Ciaràn and Domingos triggered another historic spike in claims. With more than 60,000 claims in four weeks (equivalent to two months of average activity), IMH (Inter Mutuelles Habitat) nevertheless managed to rise to the challenge of handling a volume of claims unmatched since its inception. Furthermore, the Group continues to expand its offerings and partnerships in the areas of prevention, energy-efficient renovation, repairability, and reuse.

Home security, a strategic focus for the Group, continues to demonstrate its growth potential
IMA PROTECT (remote monitoring and remote assistance) saw its revenue increase by 7% (€45.3 million) due to growth in its subscriber base. Its new “Remote Monitoring PLUS+” offering, which combines its services with connected devices from leading home automation brands, enhances the security of property and people and helps its customers save energy. Building on the quality of its services, recognized by the industry’s leading awards, this momentum reinforces IMA PROTECT’s growth ambitions.

As in previous years, the Group’s main international subsidiaries continued to expand. Their total revenue rose by 15% year-over-year, driven by organic growth, diversification of their business activities (Health & Wellness, Home, etc.), and strong sales performance (+€16.4 million).  As a result, Travel Insurance has seen a very significant increase in revenue in Italy and Spain (+€14 million), confirming the potential of this business line for the Group as a whole.

In Spain, revenue rose by 30% to €43.1 million, while in Italy it increased by 7% to €73.4 million. With the strengthening of its three-way partnership with P&V and Ethias, IMA Benelux is following the same trajectory, with a 30% increase in revenue, which now stands at €13.2 million. For its part, WAFA IMA Assistance is expanding the rollout of its offerings in its domestic market (Morocco), in Tunisia, and in the CIMA region. The sole exception to this trend is IMA Deutschland. Despite the Group’s and local teams’ efforts to identify new growth drivers, it has been decided to wind down its operations. The effective closure of the entity will take place in 2024.

A recognized and certified commitment to social responsibility, driving growth that creates many “local” jobs 
In keeping with its social model as a responsible employer, the Group continued its recruitment policy to support its growth and prepare for the future. The Group’s workforce grew by 8.9% (+467), with more than 2,300 new hires over the year (including more than 550 seasonal workers). These hires are boosting the local job markets where the Group operates, whether in Niort, Rouen, or Nantes, as well as internationally. While IMA Ibérica opened a new operational site in Almadén, in a region affected by deindustrialization, the Group announced the creation of a new support platform in Limoges in 2024, creating around 100 jobs. Furthermore, as part of its commitment not to relocate jobs, the French subsidiaries of the IMA Group (IMA Gie, IMH, IMATECH, IMA PROTECT) have received dual recognition as “100% France Customer Relations” and “Service France Guaranteed” from AFNOR, certifying that all employees involved have employment contracts governed by French law. Finally, the Group continued its investments in training, the integration of young people (seasonal workers, work-study students), and the promotion of diversity both in France and internationally.

A reaffirmed commitment to the environment, mindful of the challenges ahead  
In 2023, the Group continued to work toward achieving its “net-zero” target for direct CO2-equivalent emissions in France by 2025 and across the entire Group by 2030. For example, its investments and Energy Efficiency Plan resulted in a one-third reduction in energy consumption in 2023 at its Niort site, a result that exceeds the expectations of France’s tertiary sector decree. Based on its first Scope 3 carbon footprint assessment, which accounts for 99% of its emissions, the Group is committed to working with its networks of service providers to minimize the carbon footprint of its assistance operations (sustainable transportation, use of reused parts, etc.) or to offer services with lower carbon emissions, as is the case with its MaaS (Mobility as a Service) initiative piloted in 2023.