General Insurance Article - Covéa confirm acquisition of Sterling Insurance for £600m


Covéa confirms the acquisition of Sterling Insurance Group. Covéa has received approval from the Prudential Regulation Authority (PRA) for the change of control of Sterling Insurance Group.

 This acquisition strengthens the Group’s position in the UK and broadens its product offering in this important market. Total gross written premium in the UK market post acquisition will be close to 600 million GBP (around 800 M€).
  
 In line with its international development strategy, Covéa is reinforcing its expertise and development capacity in a very competitive market. The Group is already active in the UK market through its subsidiaries, Swinton, an insurance broker, and Covéa Insurance,
 a non-life insurer formed through the 2012 merger of MMA Insurance and Provident Insurance (which was itself acquired by Covéa in 2011).
  
 Sterling Insurance provides a diverse range of insurance products and services across a number of specialist market sectors. Its business partners range from high street brokers to the UK’s leading retail banks and financial institutions.
  

Back to Index


Similar News to this Story

Insurance payouts for pawly pets top GBP1bn for third year
Pet insurance pay-outs by ABI members topped £1 billion for the third consecutive year in 2024, helping households cover the cost of veterinary treatm
FSCS expects to pay GBP38m less in compensation to consumers
The Financial Services Compensation Scheme (FSCS) has today lowered its annual levy expectation for 2025/26 to £356m – this is £36m lower than its for
FCA sets out proposals to simplify firm complaints
The FCA has set out proposals to improve and streamline the way in which firms report customer complaints to the regulator.

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.