Adelaide makes €271 million in 2020
Verlingue, the insurance broker from the Adelaide group that bought Luso-Atlântica, closed the year with an organic growth of 3%.
The French insurance brokerage holding Adelaide, which has Genération (Life and Health), Coverelife (the group’s insurtechs) and Verlingue, a branch dedicated to the corporate insurance segment, closed 2020 with a growth of 5%, consolidating €271 million in combined business turnover.
The reported growth, including acquisitions, was 8% on 2019, with Verlingue – the main company of the group which acquired the Portuguese insurance company Luso-Atlântica -, closed the year with €189 million with its International activity generating 23% of its annual revenues.
In turn, Génération made close to €68 million, up 7% on the previous year. Luso Atlântica, the 5th largest insurance brokerage in Portugal was bought by Verlingue at the end of 2020.
According to the holding headed by Jacques Verlingue, the internationalisation strategy which resulted in the acquisition of Luso-Atlântica, is going well, increasing the business turnover made outside France by 20% of consolidated revenues.
With operations in France, Switzerland, the UK and Portugal, Adelaide’s strategic plan to 2024 is to increase international revenues to 30% of the total, with a target to double consolidated business turnover to between €400 and €500 million.
Verlingue (company insurance brokerage) achieved a turnover of €189 million, Géneration (Health and Life brokerage) ended the year up 7% to €67.7 million and Coverlife (Insurtech which provides Health and Personal cover via brand Cocoon, closed the year with revenues of €14.4 million, a growth of 18%.