The Adelaide Group has published its financials and the overall outlook is very healthy, here’s the word;
At the end of two unique years, the Adelaïde Group, and all of its constituent companies (Verlingue, Génération and Cocoon), reports results that reflect its growth, its solidity and its international expansion.
“In a turbulent environment due to crises and an ambiguous and complex insurance market, our teams have been able to increase their level of expertise and respond quickly to our customers to provide them with relevant risk management solutions,” says Jacques Verlingue, Chairman of the Adelaïde Group.
Verlingue, the business insurance broker, achieved a turnover of €211.6 million (+11.9% vs 2020). In 2021, Verlingue consolidated its international presence with the integration of the Portuguese broker Luso Atlantica, which was rebranded Verlingue Portugal this year. International business now accounts for 27% of turnover, up four percentage points on 2020.
Génération, the company health and life insurance schemes broker, had a year of strong growth with turnover soaring by +11.6% to €75.6 million. Génération recently published its first Healthcare Survey, which is based on the consumption of healthcare costs by its 2.1 million policyholders, enabling its partners and their HRD customers to analyse developments in employee social protection programmes in France. At the same time, Génération launched the development of a broker management offer for health and life insurance schemes for the personal lines market.
Lastly, Cocoon (formerly Coverlife), the Group’s insurtech, underwent a radical transformation in 2021, following the overhaul of its information system with the launch of three new digital personal insurance offers for the personal lines market, while keeping its turnover stable at €14.4 million.
Overall, the Adelaïde Group achieved a combined turnover of €301.6 million, up by 11% compared to 2020. The company says it plans to recruit about 370 new staff this coming year.
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