Brexit Statement

Covea Insurance Plc and Covéa Life Limited (together Covéa UK) are UK incorporated insurers and are duly authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority and the PRA.

The companies are subsidiaries of the leading French mutual insurance group Covéa, which is number 1 for property and liability insurance in France, serving 11.5 million policyholders and generating €16.9 billion in premiums in 2018.

Covéa UK handles the insurance needs of close to 2 million policyholders whilst benefiting from a Standard & Poor’s A+ rating, as a guaranteed subsidiary of Covéa France:

Covéa UK, as a part of its business continuity strategy, has been carrying out a comprehensive due diligence exercise on Brexit and its potential impact. This has confirmed that a possible hard Brexit outcome will not have a material adverse impact on Covéa UK’s business operations. The local risk appetite, UK incorporation and focus on the domestic market provide Covéa UK with substantial tolerance to any market fluctuations as a result of a potential hard Brexit.

The wider Covéa group will continue its European operations as normal through its duly incorporated and authorised corporate entities within the EU.

Covéa UK will continue to monitor the progress of Brexit negotiations to ensure business continuity throughout its operations.

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