In 2025, the Malakoff Humanis group maintained high rates of return on its euro funds for all of its savings products, above the market average. These performances illustrate the Group's ability to balance security, returns and redistribution as part of a savings strategy that was consistently pursued throughout 2025 in both individual and group savings.
Return on euro funds
In line with last year, the Malakoff Humanis group posted high rates of return for the euro funds in its pension savings plans and life insurance contracts:
- Malakoff Humanis Épargne mandatory retirement savings plan (PERO): 4.05% gross, i.e. a net rate of between 3.25%1 and 3.75%1;
- Médicis Multisupport individual retirement savings plan (PERIN) for the self-employed: 4% net;
- La France Mutualiste LFM PER'FORM individual retirement savings plan: 4% net;
- La France Mutualiste Actépargne 2 life insurance: 3.50% net;
- Unofi-Evolution life insurance: between 3% and 3.80% net with bonus.
The rates of return offered by the Group's savings entities - Malakoff Humanis Epargne, Médicis, La France Mutualiste and Unofi - are currently well above the market average. They are in line with what has been delivered over the past two years, confirming the high quality of financial management aimed at providing savers with long-term returns. These rates of return are also well above inflation, which stood at 0.8% year-on-year at end-December2.
Solid, high-performing financial fundamentals
The performance of the euro funds of the various entities of the Malakoff Humanis group is based on extremely solid fundamentals.
- An appropriate asset allocation tailored to different product portfolios, with:
- Significant equity exposure (over 15%) for La France Mutualiste and Malakoff Humanis Epargne;
- A significant portfolio of corporate bonds in the euro funds of life insurance contracts, confirming their strong contribution to the productive economy;
- A higher proportion of government bonds in the euro funds of company retirement savings plans (PERE);
- A very positive contribution from a resilient, high-quality real estate portfolio.
Asset class breakdown for euro funds - 2025
- Significant reinvestment capacity in favourable market conditions thanks to positive inflows for Malakoff Humanis Epargne, La France Mutualiste and Unofi. Across all savings entities, bond reinvestments enabled an increase in embedded returns while extending the duration of portfolios and enhancing their quality.
- Policyholder participation reserves maintained or increased at a high level (between 3.5% and 5% of outstandings) in each entity.
Malakoff Humanis' financial strength and performance were confirmed in 2025 by S&P Global Ratings and Fitch Ratings. For the fourth consecutive year, both agencies maintained their A+ rating with a "stable" outlook, unchanged since its initial assignment in 2022.
Malakoff Humanis' solidity and non-financial performance were recognised by an EcoVadis rating of 81/100 in 2025 (well above the industry average: 59/100), corresponding to the gold medal. With this score, Malakoff Humanis joins the top 2% of companies worldwide with the highest CSR ratings.
Savings that benefit the environment, the real economy and social transition
The performance delivered to savers is accompanied by the increasing integration of ESG criteria into the composition of savings products. Malakoff Humanis offers a wide range of responsible funds, including:
- 25% labelled funds: CIES, SRI, Greenfin, Finansol, Relance, Luxflag, Towards Sustainability
- A range of products managed with 100% SFDR Article 8 or 9 funds (systematic integration of ESG criteria)
- Thematic funds with a positive environmental or social contribution offered across the entire range.
Funds that benefit the environment
Malakoff Humanis has committed to reducing direct and indirect CO2 emissions (per euro invested) from its listed investments by 45% between 2022 and 2030. This commitment is aligned with the objectives of the Paris Agreement. Between 2022 and 2025, Malakoff Humanis already achieved a 19% reduction. More specifically, the carbon footprint of the Malakoff Humanis and Médicis company retirement savings plans (PERE) euro funds was equivalent to 86 tonnes of CO2 emitted per million euros invested at the end of 2025, a 4% decrease compared to the previous year.
To accelerate the ecological transition, the group is committed to investing in environmental projects in the form of green and sustainable bonds, as well as through environmental impact funds. In 2025, 35% of bond investments were made in green, social and sustainable bonds targeting environmental or social projects.
An investment was also made in a bond fund dedicated to developing projects that improve ocean health and freshwater quality ("blue transition"). This theme, which is essential to achieving sustainable development goals, is currently receiving insufficient investment from financial market participants. For example, the fund is financing a bond to reduce sewage discharges into the River Thames. This initiative has a direct impact on water quality and the sustainability of marine ecosystems. It is also financing a company specialising in water purification, cleaning and hygiene services and technologies. This company aims to have a positive impact, particularly in terms of reducing water consumption, for its various stakeholders by 2030.
Real economy and social transition
The Group is committed to the real economy and social transition by innovating through the creation of funds with high social additionality. The Group's social impact private debt fund makes it possible to combine the financing of a company with objectives such as increasing the proportion of people with disabilities in the workforce, gender parity and the employment of senior citizens. By the end of 2024, the first actions had been implemented by the companies financed. For example, investment in the Dellen Group, an independent family-owned group that has specialised for over 20 years in acquiring successful SMEs and mid-caps operating in a wide range of sectors. Particular attention has been paid to social issues within one of the Group's main divisions. This is reflected in the introduction of a consolidated HR dashboard and the establishment of a path for improvement on these various items.
The Group has also selected a fund specialising in microfinance. This fund has already provided financing to more than 900,000 SMEs in 52 emerging market countries. This financing directly supports local economies and entrepreneurs.
The investment themes also reflect Malakoff Humanis' two other major areas of social commitment: healthy aging and cancer. On the theme of healthy aging, one example is the investment in one of the leading companies in the production of electrical and digital infrastructure for buildings, linked to the challenges of enabling older people to remain in their own homes and improving their independence. Cancer is another theme present in several selected funds. In 2025, the Malakoff Humanis group invested in a fund dedicated to oncology, in order to participate in investments in companies that innovate in research, diagnosis, profiling, technologies and medicines.
Since its creation, France Mutualiste has maintained close ties with the military and the defence industry. This bond, symbolised in particular by the Retraite mutualiste du combattant (RMC) pension scheme, is now naturally reflected in the mutual insurance company's investment strategy. France Mutualiste is providing financial backing for the Héphaïstos private debt fund launched in March 2025 by Sienna Investment Managers. Héphaïstos is designed to support European SMEs and mid-cap companies in the defence sector that adopt a strict policy on environmental, social and governance responsibility.
Through these initiatives, the Group actively participates in the development of socially responsible companies and provides savers with access to a long-term responsible financial solution, thereby responding to their desire to give meaning to their savings.
The Malakoff Humanis Group's savings ambition
A key player in social protection in France, Malakoff Humanis has made savings the fourth pillar of its business, alongside supplementary pensions, health and personal protection. Individual and group savings now account for 18% of its revenue, compared with 3% in 2023.
The Group's savings business is structured around La France Mutualiste, Mon Petit Placement, its stake in Unofi for individual savings, Médicis for self-employed savings, and Malakoff Humanis Epargne and Gédéon for group savings.
This range, which includes company savings plans, mandatory retirement savings plan, company retirement savings plans, individual retirement savings plans and life insurance, is offered to all markets - companies, individuals and self-employed workers - via a multi-channel distribution system.
Whatever the offers and markets, Malakoff Humanis offers savings that are both redistributive (giving priority to the interests of savers) and clear (financial education and training). This approach is fully in line with the solidarity-based and mutualist Group's CSR commitments:
- Savings that deliver value first and foremost to the saver, because there are no entry charges and management fees are among the lowest on the market, and because they offer some of the best rates of return on euro funds in the market.
- Clear and supported savings, with information and awareness-raising initiatives within companies and a focus on financial education for all.
Group savings customers also benefit from social support(financial assistance) from Malakoff Humanis in the event of withdrawals linked to situations of vulnerability: death, domestic violence, financial vulnerability or excessive debt. And in terms of individual savings, France Mutualiste members benefit from a social action fund.
************************
"In 2025, the Savings entities of the Malakoff Humanis group confirmed their ability to maintain some of the highest rates on the market, in line with 2024. This performance is part of an overall growth trend in our business, with gross inflows on the rise and structured savings contributing to the Group's revenue. It fully illustrates our ambition to provide clear savings for all: effective, understandable, accessible and designed with the long-term interests of savers in mind." Isabelle Le Bot, Head of Savings at the Malakoff Humanis group, Chief Executive Officer of La France Mutualiste and Chair of the Supervisory Board of Unofi.
"The 2025 results reflect the consistency of the Malakoff Humanis group's savings strategy. By combining financial performance, solid balance sheets and enhanced support for savers, we are making savings a pillar of our development in an omnichannel distribution strategy. Our priority remains to offer companies and individuals simple, understandable and responsible solutions that enable them to plan their long-term projects with confidence and peace of mind." Christophe Scherrer, Deputy Chief Executive Officer of Malakoff Humanis
"The financial strength of Malakoff Humanis' savings model provides an essential foundation for delivering sustainable performance to savers. It is based on robust financial balances and prudent management, designed to be sustainable over time. This approach enables the Group to balance security, transparency and attractive returns, in line with its mutualist model." Olivier Della Santina, Head of Savings Markets at Malakoff Humanis and Deputy Chief Executive Officer of France Mutualiste
About Malakoff Humanis
A key player in non-profit joint and mutualist social protection, Malakoff Humanis supports companies and individuals in health, personal protection, savings and supplementary retirement.
With €10.5 billion in equity, nearly 400,000 corporate customers and more than 9 million people protected, Malakoff Humanis covers 15% of the group health and personal protection insurance market. In savings, the Group generated revenue of €880 million in 2024.
As an Agirc-Arrco supplementary pension institution, Malakoff Humanis manages contributions from more than 7 million workers and pays €44.4 billion in allowances to 6.3 million pensioners.
At the social and societal level, the Group supports its vulnerable customers and is committed to Disability - through its Malakoff Humanis Handicap foundation -, Cancer, Healthy Aging and Caregivers. More than €200 million is allocated each year to these actions.
www.malakoffhumanis.com
INVESTOR CONTACTS:
Philippe Borde: +33 6 33 11 07 42
Pierre Boucaux: +33 7 60 87 73 64
investor.relations@malakoffhumanis.com
PRESS CONTACTS:
| MALAKOFF HUMANIS Élisabeth Alfandari: +33 7 60 09 25 30 elisabeth.alfandari@malakoffhumanis.com | PRIMATICE Conseil Hugues Schmitt: +33 6 71 99 74 58 huguesschmitt@primatice.com Audrey Ngoh Dad: + 33 6 64 21 94 45 audreyngohdad@primatice.com |
1 Rate net of management fees and gross of social security contributions and tax on the contract's euro fund. Past performance is no guarantee of future returns.
2 Source: INSEE
- SECURITY MASTER Key: nWprY52Xk5nJym1pYsibm5RkmplhlpadbWial2qblJudbptgyZdpm8ecZnJnmGdv
- Check this key: https://www.security-master-key.com.
https://www.actusnews.com/documents_communiques/ACTUS-0-96329-2026-01-27_cp_malakoffhumanis_taux-rendement-2025_vdef-uk.pdf
© Copyright Actusnews Wire
Receive by email the next press releases of the company by registering on www.actusnews.com, it's free
