Covéa Insurance, the business created from the merger of MMA Insurance and Provident Insurance, has been launched today.
Covéa Insurance is a new name to the UK and reflects the company’s membership of one of Europe’s leading mutual insurance groups. Covéa is the number 1 for property and liability insurance in France in 2011, serving nearly 11 million policyholders and generating more than 14 billion euros in premiums.
James Reader, Chief Executive of Covéa Insurance commented: “With the support of such a strong mutual group, Covéa Insurance is perfectly placed to deliver the quality, consistency and financial reassurance that our broker partners and customers value. As a combined entity, Covéa Insurance will provide a broad range of general insurance products to over 1 million customers in the UK, generating revenue of over £420m and employing over 800 staff across eight locations.
“We’ve been working very hard this year to bring together Provident and MMA to create a new force in the UK insurance market. So I’m delighted to announce that, as of 1st October, we have united as a single company under our new name; we are now Covéa Insurance.
“We’ve built Covéa Insurance upon the long-established strengths and expertise of both Provident and MMA. So whilst the name has changed, we’ll continue to offer the same great products, delivered by the same great team of people – a team that really understands insurance and the needs of our broker partners.
“We have a great foundation on which to build. We are ambitious and absolutely committed to capitalising on the significant strengths of both Provident and MMA to the benefit of our customers, employees, brokers and other business partners. In our case, two plus two will very definitely equal more than four”.
