PARIS--(BUSINESS WIRE)--The Adelaide group, which includes Verlingue, Génération and Cocoon, has achieved €338 million in turnover in 2022, up 9.3%. These results are in line with its ambition of achieving a turnover of more than €400m by the end of the IMPACT 2024 Plan.
“In a consolidating industry, being a family-owned broker with a long-term vision allows us to pursue a strong growth, combining sustainability and profitability. We are proud of these results, which highlight the dedication of our teams,” states Jacques Verlingue, Chairman of the Adelaïde Group.
Specialising in corporate protection, Verlingue achieved a turnover of €239m this year, up 8.6%, of which 6% was organic growth. The broker also pursued its external growth with two acquisitions, Depeyre in France and RT Global Insurance in Portugal.
Génération, which specialises in the management of healthcare and personal protection benefits, is stepping up its momentum with a 13.8% growth rate (€86m in turnover).
Lastly, Cocoon, which specialises in the digital distribution of healthcare insurance products to private individuals, confirms its ambition with a stable turnover of €14m in 2022.
“2022 confirms that the Adelaide Group's growth is buoyant and controlled, in line with the 2024 strategic plan, with the aim of offering our customers even more added value,” says Gilles Bénéplanc, CEO of the Adelaïde Group.
Adelaïde reaffirms its ambition is to become a leading broker in Europe through its family-owned and independent model
The Adelaïde Group is implementing this European ambition through strong organic growth and acquisitions. Verlingue is consolidating its international position with an international turnover share of 29%. After five acquisitions in five years (Switzerland, France, United Kingdom, Portugal), Verlingue wishes to accelerate this trend in new geographical areas and new businesses.
“These results reflect the group's commitment to its European strategy. We have the ambition to continue to build on this momentum through new acquisitions in new countries as opportunities arise,” explains Benjamin Verlingue, Deputy CEO of the Adelaïde Group.
Controlled change in governance and ambitious recruitment
The excellent results for 2022 also support the business plan of the group, which is celebrating its 90th anniversary this year.
In 2024, the group's governance will evolve as Benjamin Verlingue will take over from Jacques Verlingue as Chairman. This handover is part of the continuity and the desire to preserve the group's spirit. Benjamin Verlingue will continue to step up the diversification and geographical expansion of the group’s operations.
In this context, the Adelaïde Group announces the appointment of Anne-Jacques de Dinechin as CEO of Verlingue. He will manage Verlingue with the aim of continuing to achieve profitable growth in each of its business segments.
Currently employing 2,200 people, Adelaïde aims to recruit 300 people by 2023.
The Adelaïde Group specialises in insurance consultancy, intermediation, distribution and management, with the aim of enabling its clients to run their businesses through effective risk management by helping them protect their operations and employees. Over the past 90 years, the Group has been tirelessly innovating, growing and reinventing itself to become one of the main players in insurance brokerage in France, with three successful companies to date: Verlingue, Génération and Cocoon. Organic growth, strategic acquisitions and international expansion and digital transformation are the four priorities that the Group has set itself to achieve its objective of building a large, family-owned and independent insurance brokerage group with a European dimension.
€2,600 m in premiums negotiated
2.2 million policy holders (health and life insurance)
27 offices in France and Europe (the UK, Switzerland and Portugal)
(*): growth based on proforma 2021 turnover