2017 was a year of sound performance and cooperation

Jan 26, 2018, by Covea

Against a background of ongoing economic recovery and buoyant financial markets, Covéa is consolidating its fundamentals. The Group delivered good business results in 2017 in a sector undergoing deep-seated change

Excellent results in strategic markets

In France, the Group confirmed its leadership position in property and liability insurance.

  • Motor insurance: almost 160,000 new vehicles insured, up 1.5%.
    Covéa now insures over 10.7 million vehicles.
  • Comprehensive home insurance: 80,000 new homes insured, up 1%, giving a total of slightly over 8 million homes insured.

The group’s brands are gaining traction in the professionals and businesses market, with very strong growth, well above the market average.

In France, in life insurance, Covéa reported an increase in the proportion of inflows into unit-linked policies.

After feeling the effects of implementation of the national inter-professional agreement (ANI) for two years, the Group had a positive year in health and personal lines, thanks to sustained development in the group contract segment.

A single company focused on building customer relationships

Since 1 January 2018, the Group has enhanced its governance to meet four priority challenges:

  • customer relationship excellence,
  • operational efficiency,
  • risk control,
  • profitable development.

Alongside this new organisation, cooperation is being reinforced within the Group, drawing on all available talent and resources.

Two management departments are dedicated to meeting new challenges in terms of customer satisfaction. Their objectives are three-fold: create more opportunities for communication with customers, develop the services associated with products and build loyalty among members.

Thierry Derez, Chairman and CEO

“We continue to make strides along our path of profitable growth. Our financial robustness, prudent management and ambitious new organisation, together with the pooling of our teams’ expertise under the banner of a single company, enable us to lead the battle for customer relationships and to face the future with confidence.”