Jacques Verlingue, Chairman, and Gilles Beneplanc, Managing Director of the Adelaïde Group, presented the group’s 2021 results this morning and highlights include:
- • 2021 turnover of €301.6 million, i.e. an increase of 11%, ahead of the objectives of the “IMPACT 24” strategic plan
- • Consolidation of Verlingue’s international activities
- • Sustained organic growth of Génération
- • Restructuring of Cocoon’s product offering
- • Strategic acquisition of a stake in the new wholesaler Zenioo, with the aim of developing a fourth business line in the personal lines market
Exceeding objectives in 2021
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.
Générationthe 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.
Consolidating the IMPACT24 strategic ambition
““In tandem with the development of its core business, 2021 marks a strategic turning point for the Adelaïde Group with the acquisition of a stake in the neo-broker wholesaler Zenioo and the ambition to create a 4th branch of activity dedicated to the personal lines market,” says Jacques Verlingue, Chairman of the Adelaïde Group.
Outlook for 2022:
- • Developing a 4th business line of wholesale brokers dedicated to the personal lines market
- • Reaffirming the ambition for acquisitions in Europe
- • Continuing the digital transformation
- • Creating the “Adelaïde Leaders Program”.
To support its development ambitions as part of its IMPACT24 strategic plan, the Group unveiled its recruitment policy for 2022 last March, with a firm target of more than 377 new recruits in France.
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