Covéa Insurance (UK): completion of a successful integration process

Jul 19, 2016, by Covea

As part of the ongoing development process undertaken several years ago, which materialised in the winning acquisition of Sterling in February 2015, Covéa Insurance’s 650 employees based in Halifax (Yorkshire) moved into brand new premises on 13 July.

The new Halifax premises in the county of Yorkshire were inaugurated on Wednesday 13 July in the presence of Covéa CEO, Thierry Derez.

Along with Reading (Berkshire) and West Malling (Kent), this is one of the three main sites of this Covéa group subsidiary, which employs close to 1,500 people and has received a number of distinguished awards this year in recognition of the successful implementation of its strategy and HR policy.

This event marks a new stage in the UK insurer’s development after the successful integration of Sterling Insurance’s teams, which was completed at the beginning of 2016.

To recap:

In February 2015, the UK regulator – the Prudential Regulation Authority – approved Covéa’s acquisition of Sterling.

On 1 January 2016, Covéa Insurance confirmed the transfer of Sterling Insurance’s non-life portfolio to its own business scope and the merger of the companies’ employees into a single entity.

This integration process enables the new entity to capitalise on the two companies’ strengths:

  • Their complementary product ranges and distribution channels.
  • The expertise of their teams, particularly in terms of customer service.

The UK’s 10th largest motor insurer does not, however, intend to rest on its laurels: two major new projects should keep it on course.

The first is the development of a dedicated IT system to market a unique product range targeting professional customers.

The second is a project geared to boosting direct sales via the UK’s main price comparison websites.