Crédit Mutuel Alliance Fédérale becomes an insurer in Germany through its subsidiary ACM Deutschland
Published on 02/07/2025
Reading time : 2mn
ACM Deutschland, the German subsidiary of Assurances du Crédit Mutuel (ACM), has obtained approval from BaFin, the German financial supervisory authority. These approvals will enable Crédit Mutuel Alliance Fédérale to market its own insurance products exclusively in Germany, via the TARGOBANK banking network, from January 1st 2026. A pilot period will begin on July 1st 2025. By the end of 2025, ACM Deutschland will be fully operational in the German market.
"Crédit Mutuel Alliance Fédérale's strategic plan aims to deploy our bancassurance model in Europe. The BaFin decision marks a major step towards this goal. We will be ready to market ACM Deutschland's insurance products through the TARGOBANK network," says Isabelle Chevelard, Chairman of the Management Board of TARGOBANK and Chairman of the Supervisory Board of Groupe des Assurances du Crédit Mutuel.
"I would like to warmly thank all the teams at Assurances du Crédit Mutuel, TARGOBANK and Euro-Information for their hard work and commitment to this project, which has enabled us to create two new insurance entities, ACM Versicherung AG and ACM Lebensversicherung AG, ex nihilo, and make them operational in record time," says Nicolas Govillot, Chairman of the Management Board of Groupe des Assurances du Crédit Mutuel.
"Obtaining the BaFin insurance approvals marks the beginning of a new chapter for ACM Deutschland. We look forward to marketing our products with TARGOBANK, and becoming their exclusive partner from January 1st ,2026," concludes Mathieu Dehestru, Chairman of the Management Board of ACM Deutschland.
Thanks to these essential approvals for the marketing of its life and non-life insurance products obtained by ACM Versicherung AG and ACM Lebensversicherung AG, Crédit Mutuel Alliance Fédérale will be able to serve its entire German target insurance market from January 1st 2026, after a pilot period starting in the second half of 2025.
Initially, the mutualist group will products in the field of retirement provision, creditor insurance, provision and related products.
A key step in the strategic plan Together High Performance Solidarity 2024-2027
These products will be distributed mainly via TARGOBANK, which has an extensive network in Germany. With 340 branches in more than 250 German cities, the German bank will become a fully-fledged universal bancassurer, based on the model that has made Crédit Mutuel so successful in France. The planned acquisition of Oldenburgische Landesbank (OLB) by Crédit Mutuel Alliance Fédérale via TARGO Deutschland GmbH could also open up development prospects for ACM Deutschland.
As Crédit Mutuel Alliance Fédérale's second domestic market, Germany is a strategic market for the mutualist group, which has everything it needs to succeed, with insurance products and services whose quality is widely recognized.
The approval granted by the BaFin is an important step in the pursuit of this expansion. Drawing on TARGOBANK's reputation and network, as well as the solid expertise of the Groupe des Assurances du Crédit Mutuel, this transaction opens up promising new prospects for ACM Deutschland's development.