Profits climb for Covéa despite GWP drop

Covéa Insurance has posted improved profits in its 2025 full year financial results, despite a dip in gross written premium (GWP).

The results – released today (14 April 2026) – revealed that the firm’s profit before tax more than doubled between years, up from £32.9m in 2024 to £72.4m in 2025.

This came despite a GWP fall, with the firm’s £616.8m posting for the current year some 3.85% lower than the £641.5m seen in 2024.

The firm’s combined operating ratio (COR) also improved, dropping from 97.8% to 91.6% between periods.

Financial performance

Philippe Domart, chief executive at Covéa Insurance, said: “2025 was an excellent year for Covéa Insurance, not only in terms of financial performance but in the strength and confidence of the organisation.

“Building on a profitable 2024, the strong performance in 2025 validates the business strategy, proves the resilience of the organisation and its ability to execute well, with discipline and pace.

“The teams can rightly feel proud of their collective achievements, energised for the future, driven to deliver best-in-class service to our brokers and clients and continue to earn their trust amid a demanding and evolving market.”

Chris Moat, chairman of Covéa’s board of directors, added: “This performance reflects a business that is operating with greater financial discipline and balance sheet strength.

“Our capital position remains robust, underwriting performance has continued to improve and we are benefiting from a more stable and resilient operating model. This places us in a strong position to support brokers consistently and sustainably over the long-term.”