Adelaïde Group Reports Strong Growth and Expands Operations Across Europe
Adelaïde Group Reports Strong Growth and Expands Operations Across Europe
In a significant development for the insurance sector, the Adelaïde Group announced impressive results for the fiscal year 2024. The company achieved a revenue of €450 million, reflecting a notable increase of 12.5% compared to the previous year. This growth trajectory is part of their strategic plan known as "Better Future 28" aimed at reaching a target revenue of €800 million by 2028. The initiative envisions the establishment of Adelaïde as a leading independent family-run insurance broker in Europe, aligning with their core values of excellence, client proximity, and innovation.
Benjamin Verlingue, CEO of the Adelaïde Group, expressed confidence in the company's direction, stating, "Our results for 2024 confirm the relevance of our strategy and the strength of our independent family model. The successful roll-out of our strategic plan embodied in "Better Future 28" shows our dedication to building a top-tier European insurance broker while remaining true to our founding values."
Strategic Acquisitions Bolster Market Position
The Adelaïde Group has strategically reinforced its position in the European brokerage market through a series of four acquisitions. These efforts aim to expand their service offerings and geographical presence. Some key acquisitions include:
- - DUNE (France): Specializing in construction insurance, DUNE enhances Adelaïde's expertise in insurance distribution.
- - ProConseils Solutions (Western Switzerland): This subsidiary is pivotal for strengthening the group's market standing in a key region.
- - MBB and Brixia Broker (Italy): These acquisitions strengthen Inser, Adelaïde's Italian subsidiary's regional network.
A Year of Growth and Transformation
The year 2024 has been characterized by substantial growth and transformation across the Adelaïde Group. The company recorded solid performances and strategic investments across various business segments. Specifically, Verlingue’s revenue reached €314 million, showing a growth of 10%. Notably, the international segment accounted for a significant percentage of total revenue, constituting 37% of Verlingue's overall performance.
As part of the ongoing changes within the organization, Vincent Harel has been appointed as the new CEO of France and Europe, set to start on April 28, 2025.
In additional exciting news, Génération, a leader in managing health insurance and pension plans, saw impressive growth of 18%, generating a revenue of €121 million. Cocoon, another subsidiary focused on individual health insurance, continued to improve its portfolio by enhancing digital channels, leading to a profitable outcome with a revenue of €13 million.
DUNE, now integrated into the group, aspires to emerge as a prominent player in the underwriting market with a focus on construction insurance, having already generated €10 million in premiums through connections with 650 brokers. This showcases its strategic potential and ability to enrich the group’s offerings.
About Adelaïde
The Adelaïde Group focuses on consulting, brokering, distributing, and managing insurance products. By concentrating on four key areas—organic growth, strategic acquisitions, international expansion, and digital transformation—the group aims to build a large, Europe-wide brokerage firm that remains true to its family values and independence.
With a workforce of 2,900 employees, the group manages 4.5 billion euros in premiums, insuring 2.6 million individuals under health insurance and providing pension plans for 1.2 million people through its branches spread across five European countries including France, the UK, Switzerland, Portugal, and Italy. For more details, visit www.adelaidegroup.fr.
Topics Financial Services & Investing）
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