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 €17.4 billion in premiums in 2019.

Covéa UK handles the insurance needs of 2.1 million policyholders whilst benefiting from a Standard & Poor’s AA- rating, as a guaranteed subsidiary of Covéa France.

Covéa UK, as a part of its business continuity strategy, carried out a comprehensive due diligence exercise on Brexit and its impact. This duly confirmed that Brexit 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 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’s preparation and planning has secured its business continuity throughout its operations following Brexit and the end of the Brexit transition period.

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