Covéa Insurance makes debut in UK market

Covéa Insurance has been launched today following the merger of MMA Insurance and Provident Insurance.

Covéa Insurance is part of French-based mutual Covéa and this represents its first move in the UK market.

Covéa Insurance chief executive James Reader said: “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 more than one 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 1 October, we have united as a single company under our new name; we are now Covéa Insurance.”

He continued: “We’ve built Covéa Insurance upon the long-established strengths and expertise of both Provident and MMA. So while 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.”