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 and served 11.5 million policyholders, generating over 16.4 billion Euros in premiums in 2016.  

Covéa Insurance handles the insurance needs of 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, mid and high net worth insurance and a range of commercial insurance products, designed to meet the needs of most individuals and businesses. Employing over 1500 people, Covéa Insurance has a strong people and service ethos, having Investors In People Gold accreditation and featuring in the 2015 and 2016 Sunday Times Top 100 Mid-sized Best Companies to Work For. 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 January 2016, Sterling Insurance Company Limited became a fully integrated part of Covea Insurance Plc, following a Part VII transfer under the Financial Services and Markets Act.