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 16.9 billion Euros in premiums in 2018.  

Covéa Insurance looks after the insurance needs of over 1.5 million policyholders; delivering financial reassurance through its Standard & Poor’s A+ 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 1800 people, Covéa Insurance has a strong people and service ethos, having Investors In People Gold accreditation and is signatory to the HM Treasury Women In Finance Charter. It also has World Class service accreditation from the Institute of Customer Service for its Motor Claims, Home Claims and Underwriting Services teams as well as Chartered Insurer status for its Commercial and Mid/High Net Worth business.

In 2018, Covéa Insurance were recipients of the Personal Lines Insurer of the Year award at both the British Insurance Awards and the Insurance Times Awards and was the top rated insurer in the Insurance Times Broker Service Survey for both Personal and Commercial Lines.