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Thélem Assurances
Thélem Assurances was founded in 1820 and operates as a mutual insurance company from its headquarters in Checy, France.
Thélem Assurances
Thélem Assurances was founded in 1820 and operates as a mutual insurance company from its headquarters in Checy, France. Daniel Antoni previously served as Directeur Général and President of the Board before Pascal Féliot assumed the leadership role. The firm distributes its property, casualty, health, and life products through a network of 305 agencies concentrated in the centre and grand Ouest of France, maintaining a direct-agent model that avoids centralized call-centre distribution. The firm's general account is deployed across a mix of real estate, forestry, and operational insurance liabilities. Directly held assets include commercial buildings in Paris — at 10A rue de la Paix and 11 Avenue de l'Opéra — alongside its Le Croc headquarters and forestry holdings in Vendoeuvres. On the operational side, Thélem participates in GIE Karéo Services, a claims-management cooperative alongside Aviva, Generali, and Pacifica. The firm is a member of France Assureurs, the Association des Assureurs Mutualistes, and the UN Global Compact since 2022, with a stated focus on sustainability and corporate social responsibility through its RSE program. Thélem opened a new agency in Redon, Ille-et-Vilaine, in October 2025, extending its western French footprint. In 2025, the firm co-hosted a regional CSR event in Orléans with EDF and Partnaire. The firm maintains philanthropic ties through the Fondation ARSEP, a foundation dedicated to multiple sclerosis research. Unlike a publicly traded composite insurer, Thélem's mutual structure means policyholders are the firm's ultimate stakeholders, freeing the balance sheet from quarterly earnings pressure. This architecture allows it to hold illiquid real assets — Parisian commercial property and French timberland — over multi-decade horizons without mark-to-market volatility dictating allocation decisions.
General information
Firm type
Insurance
Year founded
1820
AUM
Undisclosed
Location
Region
Europe
Country
France
City
Checy
Corporate office
Le Croc, 45430 Chécy, France
Additional offices
Paris, France
Principals
Pascal Féliot
Directeur Général
Daniel Antoni
Former Directeur Général and President of the Board
Sector focus
Frequently asked questions
How does Thélem Assurances' mutual structure shape its investment strategy?
As a mutual insurer, Thélem is owned by its policyholders rather than public shareholders. This eliminates pressure for short-term earnings, allowing the firm to hold illiquid real assets over multi-decade periods. The balance sheet includes commercial property in Paris and forestry holdings in Vendoeuvres, asset classes that require patient capital.
What real assets does Thélem directly hold on its balance sheet?
Thélem holds direct commercial property at 10A rue de la Paix and 11 Avenue de l'Opéra in Paris, its Le Croc headquarters in Checy, forestry land in Vendoeuvres, and the Domaine de Pessillot property. These are held through dedicated SCI structures rather than through fund vehicles.
Who runs investment and operational decisions at Thélem?
Pascal Féliot serves as Directeur Général, with Daniel Antoni having previously held both the Directeur Général and President of the Board roles. The firm operates a decentralized agency model with 305 local agents distributing insurance products directly, avoiding centralized call centres.
Is Thélem Assurances affiliated with any larger insurance groups or co-management structures?
Thélem participates in GIE Karéo Services, a cooperative claims-management structure alongside Aviva, Generali, and Pacifica. It is also a member of France Assureurs, the Association des Assureurs Mutualistes, and the UN Global Compact by 2022.
Does Thélem maintain philanthropic structures?
Yes, Thélem is associated with the Fondation ARSEP, which focuses on multiple sclerosis research. The firm has also co-hosted regional corporate social responsibility events, including a 2025 Orléans event with EDF and Partnaire.
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