Covéa Insurance Launches New Executive Motor Product

Covéa Insurance is pleased to announce it has launched a new motor product, aimed at mid to high net worth customers wanting to insure between two and ten cars. Sterling Executive Motor is a ‘best of breed’ product, designed using the collaborative skillset of the Covéa Insurance and Sterling Insurance teams, who are now trading as a single unified business.

This move represents an expansion of the existing Sterling Executive Product range, building on the excellent reputation established by Sterling Insurance in the mid and high net worth market which Covéa Insurance is keen to build upon.

Sterling Executive Motor is complementary to the existing Sterling Executive product suite, and is ideally suited to being sold as part of an overall mid-high net worth product proposition. As a result, it should appeal to brokers who either have an existing high net worth customer base, or are keen to develop one.

Simon Cooter, Commercial Lines and High Net Worth Director said:

“We’ve now completed a successful pilot of this new product and are pleased to be able to offer it more widely to brokers. This is the first major trading opportunity created as a result of Sterling Insurance joining forces with Covéa Insurance and showcases the strength of our combined team.”

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About Covéa Insurance

Covea Insurance Plc is the UK underwriting business of leading French mutual insurance group Covéa, who are number 1 for property and liability insurance in France, generating over 16.6 billion Euros in premiums in 2020.   

Covéa Insurance looks after the insurance needs of over 2 million policyholders; delivering financial reassurance through its Standard & Poor’s ‘AA- stable’ rating, as a guaranteed subsidiary of Covéa. 

The company offers motor, household, protection, pet, mid and high net worth insurance and a range of commercial insurance products, through a range of distribution channels.

Employing over 1900 people, Covéa Insurance has a strong people and service ethos.  It holds ServiceMark accreditation with Distinction for its Personal Lines operation and its Commercial & HNW Claims teams, as well as Chartered Insurer status for its Commercial business.  Covéa Insurance is signatory to the HM Treasury Women in Finance Charter and the insurance Inclusivity Pledge and has been named one of the top 75 employers in West Yorkshire & the Humber.

Recently, Covéa Insurance won the General Insurer of the Year award at the British Insurance Awards 2021. It was named as the Best Place to Work in Digital (Large Organisations) at the Digital Technology Leaders Awards and as the Best Employer at the Yorkshire Financial Awards.  They were also recipients of the Best Insurer title at the British Claims Awards, High Net Worth Product of the Year Award at the Insurance Times Awards, the Staff Empowerment Award at the Diversity & Inclusion in Insurance Awards.