French mutual insurers Macif, Maif, Matmut to merge

PARIS, March 19 (Reuters) - French mutual insurers Macif, Maif and Matmut plan to merge, according to an internal letter from Macif sent to its staff on Thursday.

The letter, obtained by Reuters, said the three companies had taken the decision to merge as a result of the "increasingly tough competitive environment."

France's main insurers are AXA (AXAF.PA), CNP (CNPP.PA) and unlisted insurer Groupama. (Reporting by Sudip Kar-Gupta; Editing by David Holmes)