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Adelaïde Group Achieves Remarkable Growth and Expands European Reach

In an impressive display of growth, the Adelaïde Group has announced a turnover of €450 million for the year 2024, representing a significant 12.5% increase over the previous year. This milestone is not just a reflection of strong financial performance but also a testament to the successful implementation of the Better Future 28 strategic plan designed to position the company as Europe’s foremost independent family insurance broker. The ambitions don't stop here; the Group is targeting a turnover of €800 million by 2028, aligning well with its strategic vision.

Solid Performance and Sustainable Growth Momentum

During a recent communication of the annual results, Benjamin Verlingue, the Chairman and CEO, emphasized the robustness of the Group’s business model, which is driven by healthy organic growth marked by a surge of 10% and a series of calculated acquisitions. He stated, “Our performance in 2024 validates our strategic approach and showcases the advantages of our independent family brokerage model. Our Better Future 28 initiative represents our collective aim to establish ourselves as leaders in the family brokerage sector while adhering to our core principles.”

Strategic Acquisitions in 2024

A pivotal part of the Group’s strategy for 2024 involved making four targeted acquisitions, which have bolstered its position within the European insurance market. Notable acquisitions include:

1. DUNE (France) - A Managing General Agent specialized in construction insurance, enabling the Group to enhance its expertise in insurance distribution.
2. ProConseils Solutions (French-speaking Switzerland) - This marks Verlingue's first expansion into the French-speaking regions of Switzerland, a critical step towards enhancing market presence.
3. MBB and Brixia Broker (Italy) - These acquisitions of insurance brokers significantly extend Inser, the Group's subsidiary in Italy, thereby strengthening territorial coverage.

Growth and Transformation Across Different Entities

The year 2024 marked a period of consistent growth and transformation within the various entities under the Adelaïde umbrella. Verlingue alone saw a turnover of €314 million, an increase of 10%, thanks largely to ongoing expansion efforts not only in France but also through acquisitions in Italy and Switzerland. Notably, international business accounted for an impressive 37% of Verlingue’s earnings.

In the meantime, Génération, a Third-Party Administrator focusing on both individual and corporate health benefits, recorded extraordinary growth of 18%, resulting in a turnover of €121 million. The portfolio expanded impressively, covering 2.6 million health policyholders and 1.2 million life insurance policyholders.

Furthermore, Cocoon, a subsidiary dedicated to individual health insurance, made significant strides in optimizing digital channels while maintaining profitable growth, generating a turnover of €13 million. The brand's activities surged, particularly in the segment for individuals transitioning from group schemes, with 12,000 new contracts secured.

Lastly, DUNE, now part of the Group, has set ambitious targets to establish itself as a front-runner in the underwriting market, particularly focusing on construction insurance. Within just a short span, the entity has successfully written €10 million in premiums, backed by a network of 650 brokers, showcasing its substantial strategic potential.

About Adelaïde Group

Specializing in insurance consulting, brokerage, distribution, and management, the Adelaïde Group stands as one of France’s leading insurance brokers. The Group has outlined four key priorities to meet its ambitions: organic growth, strategic acquisitions, international expansion, and digital transformation. With a team of 2,900 employees, Adelaïde manages €4.5 billion in premiums and caters to 2.6 million policyholders with health coverage along with 1.2 million life insurance policyholders. Its presence spans five countries: France, Great Britain, Switzerland, Portugal, and Italy.

For more detailed insights into Adelaïde Group's operations and strategies, visit Adelaïde Group.