Covéa completes Sterling effort
Covéa Insurance has integrated Sterling Insurance Company into its business, following approval from the High Court last month.
One result of the deal is the launch of an executive motor product, which combines Covéa Insurance’s expertise in motor insurance and Sterling’s other mid and high net worth products.
The integrated business will combine the strengths of both companies, including product ranges, distribution channels, locations and people.
A larger regional trading office has also opened in Birmingham.
Chief executive of Covéa Insurance, James Reader, said, ‘Our vision is to create a stronger UK business capable of delivering long-term sustainable growth. I’m confident that the combined organisation provides a great platform from which to achieve this, to the benefit of our customers, business partners and people.
‘The formal integration of Sterling Insurance into Covéa Insurance is the culmination of a major project across all areas of both businesses.
‘Our priority now is to ensure that, as the practical work to integrate the businesses continues, we maintain our focus on delivering high-quality products for our broker partners and customers, supported by unrivalled service standards, as we look forward to our first trading year as a combined business.’
The combined business has written premiums approaching £600 million, employs almost 1,400 people and provides a broad range of general insurance products and administration services to customers in the UK.