Adelaide Group Results: Turnover Up 8%

At the end of a challenging year, the Adelaïde Group, and all of its constituent companies (Verlingue, Génération and Coverlife), report results that demonstrate its growth, strength and international expansion.

“Since the beginning of the health emergency, our sole objective has been to protect the health of our employees and their families, to support our customers more than ever in protecting their business and their employees, and to ensure the smooth running of our companies,” stressed Jacques Verlingue, Chairman of the Adelaïde Group.

Overall, the Adelaïde Group achieved a combined turnover of €271 million, an increase of 8%, including the activity of the Eyssautier-Verlingue subsidiary for the first full financial year, i.e. an increase of 5% excluding acquisitions.

The corporate insurance broker Verlingue achieved a turnover of €189 million (3% organic growth), 23% of which was generated internationally (excluding the acquisition of Luso Atlantica, which will be incorporated as of 2021).

Génération, the broker managing company health and life insurance schemes, had a year of strong growth with turnover jumping by 7% to €67.7 million.

Lastly, Coverlife, the Group’s insurtech business, which markets health and personal protection insurance for individuals under the Cocoon brand, continued its fast-paced development with a turnover for 2020 that grew by 18% to €14.4 million.

During this period, the group has adapted and organised itself:

  • A new team has joined Gilles Bénéplanc to form the general management team, as part of a staff-based approach.
  • External growth operations, such as Luso Atlantica, were successfully carried out internationally, bringing the Group’s turnover outside France to over 20%. The Adelaïde Group now has operations in France, the UK, Switzerland and Portugal.
  • The resilient organisation, despite the COVID-19 health emergency, has resulted in a 2 percentage point improvement in operating performance.

“Our ambition is to become a large, European-sized, family-run and independent insurance brokerage group, in which talented people flourish and do their best every day to satisfy existing customers and attract new ones” Jacques Verlingue, Chairman of the Adelaïde Group.

2024 strategic ambition

“These results and our new organisation encourage us to continue our transformation drive and fuel our determination to succeed”, comments Gilles Bénéplanc, CEO of the Adelaïde Group. “Our “Impact 24″ Strategic Plan states that we will do so for the benefit of our customers, with a view to ensuring the fulfilment of our employees and respect for our values”.

 

  

 

About alastair walker 6824 Articles
20 years experience as a journalist and magazine editor. I'm your contact for press releases, events, news and commercial opportunities at Insurance-Edge.Net

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