Eurapco

Opportunities for growth

Profile

Eurapco is an Alliance of independent European companies from the financial services industry. It consists of seven Partner companies – Eureko, Covéa/MAAF-MMA (France), Friends Provident (UK), Gothaer (Germany), Länsförsäkringar (Sweden) and Swiss Mobiliar (Switzerland) – operating in 17 countries in Europe. Caser (Spain) joined in 2005 for a trial membership period, with an option to join the Alliance at a later date.

Each of the Partners holds a strong position in its domestic market. Together, they form one of the leading insurance groups in Europe with a total premium volume of more than EUR 30 billion and around 30 million clients.

Eurapco activities cover the main insurance lines of the Partners, i.e. Life insurance, Non-Life insurance and the respective support functions. Eurapco resources are dedicated to the continuing development of the Alliance, specifically to create and exploit synergy opportunities. Eurapco conducts around 60 activities, which are all Partner-driven. These include knowledge exchange through networking with organised business groups, forums, workshops, peer seminars, symposiums and benchmarking exercises, as well as the development of new projects, leading where appropriate to common commercial activities. Eurapco also contributes to the training and management development of Partners’ senior and high potential managers.

Main developments 2006

In the past year, Eurapco generated over EUR 3.5 million worth of benefits for the Partners. The Marine Group continued its successful co-operation and the majority of the partners have now signed the underwriting authority agreement. Gross cumulated premium for the joint Marine operation was EUR 7.2 million, and generated over EUR 2 million in new business.

International Employee Benefits again had very good results, with a production of more than EUR 31 million.

The new healthcare legislation in The Netherlands was a trigger for in-depth knowledge exchange as the other partners benefited from Eureko’s experience in adapting its health products and services in The Netherlands to comply with the new laws. All European countries face the prospect of legislative reforms in health and pensions, and the Dutch experience provided a welcome source of information for other insurers.

The Fraud Group broadened its activities from motor to property insurance.

Strategy

The Eurapco Partners aim – through co-operation – to strengthen their ability to compete in their local markets and also wish to benefit from involvement on the international stage. By enhancing the systematic exchange of skills, know-how and resources, Eurapco creates value and sustainable commercial benefits for its Partners.