Covéa Insurance has been officially launched in the UK market for the first time, following its creation after the merger of MMA with Provident Insurance.

Offering property and liability insurance in France, Covéas serves nearly 11 million policyholders, while generating more than €14bn in premiums.

Covéa Insurance chief executive James Reader commented, "With the support of such a strong mutual group, Covéa Insurance is perfectly placed to deliver the quality, consistency and financial reassurance that our broker partners and customers value."

"As a combined entity, Covéa Insurance will provide a broad range of general insurance products to over 1 million customers in the UK, generating revenue of over £420m and employing over 800 staff across eight locations."

Reader also added that establishment of the new business would not lead to mass job cuts among those who held roles at MMA and Provident.