The Adelaïde Group announces 18% turnover growth for 2023
In 2023, the Adelaïde Group accelerated its development and maintained above-target performance levels
NEUILLY-SUR-SEINE, France, April 5, 2024 /PRNewswire/ -- The Adelaïde Group achieved an aggregate turnover of €400 million in 2023, recording 18% growth compared with 2022. These results exceed the targets set and the Group's strategic ambition of achieving turnover in excess of €400 million by the end of the IMPACT24 Plan.
The Group is pursuing its internationalisation policy with 25% of its business now conducted outside France through new acquisitions in Europe. Over the past 4 years, the Group has made 9 acquisitions or equity investments.
At the same time, the Group is stepping up its innovations and its digitalisation by bringing in new differentiating services for its clients.
"Our position as an independent insurance broker enables us to prosper by ensuring very sustained growth, and to reconcile a tailored approach and profitability. We are proud of these achievements, which bear witness to not only our teams' unfailing commitment but also the robustness of our group", Jacques Verlingue, Chairman of the Adelaïde Group.
Verlingue, the subsidiary specialising in corporate protection, recorded an aggregate turnover of €285 million in 2023, up 19%, of which 50% was organic growth. Around 35% of its business is generated outside France on the back of its external growth strategy, which has led it to set up new businesses in Italy and in the United Kingdom.
Génération, which specialises in managing Health and Life Insurance contracts, is consolidating its growth with an 18% increase in comparison with 2022, achieving a turnover of €102 million in 2023. With this growth comes a larger customer base, with over 2.4 million beneficiaries covered by Health insurance and 1.1 million covered by Personal Accident. Insurance individual branch has recorded promising growth with over 150,000 members. Over the same period, Génération has continued its expansion, opening a new establishment in Saint-Nazaire.
In 2023, Cocoon, which specialises in the distribution of health and personal protection insurance for individuals, expanded its management teams with the arrival of Fanny Ridet as CEO. With a turnover of 13 million euros, Cocoon aims to become a recognised stakeholder in the digital and ethical distribution of supplementary Health insurance solutions.
"We are thrilled to see the Adelaïde Group maintaining a dynamic growth curve and exceeding the objectives of our ambitious strategic plan. Our results continue to make steady progress and amply illustrate our commitment to offering our clients a steadily growing added value" Gilles Bénéplanc, CEO, Adelaïde Group.
Adelaïde reaffirms its ambition to become a leading broker in Europe through its model
A year before the Impact24 strategic plan officially comes to a close, the Adelaïde Group is recording vigorous growth in line with its objectives, and a sound financial performance.
"Our performances are proof of our commitment to our European strategy. These results confirm our ability to offer an alternative to large global or financialized brokers" Benjamin Verlingue, Deputy CEO, Adelaïde Group.
An upcoming change in governance, marked by innovation and growth
In 2024, a major change lies ahead in the group's governance as Benjamin Verlingue is set to succeed Jacques Verlingue as its chairman. This transition will guarantee continuity and reflect the firm intention to maintain the group's independence and spirit of innovation.
With a current team of over 2,500 employees, Adelaïde has set out to recruit over 250 new talents in 2024.
About the Adelaïde Group
The Adelaïde Group specialises in insurance consultancy, intermediation, distribution and management. It is geared towards enabling its clients to run their businesses through effective risk management, by helping them protect their operations and their employees. For over 90 years, the Group has been growing to become one of the main players in insurance brokerage in France, with three thriving companies: Verlingue, Génération and Cocoon with the objective of building a major family-owned and independent insurance brokerage group with a European reach.
2,500 employees
€3,000m in negotiated premiums
2.4 million policyholders with health insurance cover and 1.1 million with life insurance cover
Located in 5 countries: France, United Kingdom, Switzerland, Portugal, Italy
Press contact
Agence Epoka
Lucie Fortin
lfortin@epoka.fr
+33(0)619687018
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