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The Adelaïde Group announces 18% turnover growth for 2023

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In 2023, the Adelaïde Group accelerated its development and maintained above-target performance levels

NEUILLY-SUR-SEINE, France, April 5, 2024 /PRNewswire/ — The Adelaïde Group achieved an aggregate turnover of €400 million in 2023, recording 18% growth compared with 2022. These results exceed the targets set and the Group’s strategic ambition of achieving turnover in excess of €400 million by the end of the IMPACT24 Plan.

The Group is pursuing its internationalisation policy with 25% of its business now conducted outside France through new acquisitions in Europe. Over the past 4 years, the Group has made 9 acquisitions or equity investments.

At the same time, the Group is stepping up its innovations and its digitalisation by bringing in new differentiating services for its clients.

Our position as an independent insurance broker enables us to prosper by ensuring very sustained growth, and to reconcile a tailored approach and profitability. We are proud of these achievements, which bear witness to not only our teams’ unfailing commitment but also the robustness of our group, Jacques Verlingue, Chairman of the Adelaïde Group.

Verlingue, the subsidiary specialising in corporate protection, recorded an aggregate turnover of €285 million in 2023, up 19%, of which 50% was organic growth. Around 35% of its business is generated outside France on the back of its external growth strategy, which has led it to set up new businesses in Italy and in the United Kingdom.

Génération, which specialises in managing Health and Life Insurance contracts, is consolidating its growth with an 18% increase in comparison with 2022, achieving a turnover of €102 million in 2023. With this growth comes a larger customer base, with over 2.4 million beneficiaries covered by Health insurance and 1.1 million covered by Personal Accident. Insurance individual branch has recorded promising growth with over 150,000 members. Over the same period, Génération has continued its expansion, opening a new establishment in Saint-Nazaire.

In 2023, Cocoon, which specialises in the distribution of health and personal protection insurance for individuals, expanded its management teams with the arrival of Fanny Ridet as CEO. With a turnover of 13 million euros, Cocoon aims to become a recognised stakeholder in the digital and ethical distribution of supplementary Health insurance solutions.

“We are thrilled to see the Adelaïde Group maintaining a dynamic growth curve and exceeding the objectives of our ambitious strategic plan. Our results continue to make steady progress and amply illustrate our commitment to offering our clients a steadily growing added value” Gilles Bénéplanc, CEO, Adelaïde Group.

Adelaïde reaffirms its ambition to become a leading broker in Europe through its model

A year before the Impact24 strategic plan officially comes to a close, the Adelaïde Group is recording vigorous growth in line with its objectives, and a sound financial performance.

“Our performances are proof of our commitment to our European strategy. These results confirm our ability to offer an alternative to large global or financialized brokers” Benjamin Verlingue, Deputy CEO, Adelaïde Group.

An upcoming change in governance, marked by innovation and growth

In 2024, a major change lies ahead in the group’s governance as Benjamin Verlingue is set to succeed Jacques Verlingue as its chairman. This transition will guarantee continuity and reflect the firm intention to maintain the group’s independence and spirit of innovation.

With a current team of over 2,500 employees, Adelaïde has set out to recruit over 250 new talents in 2024.

About the Adelaïde Group

The Adelaïde Group specialises in insurance consultancy, intermediation, distribution and management. It is geared towards enabling its clients to run their businesses through effective risk management, by helping them protect their operations and their employees. For over 90 years, the Group has been growing to become one of the main players in insurance brokerage in France, with three thriving companies: Verlingue, Génération and Cocoon with the objective of building a major family-owned and independent insurance brokerage group with a European reach. 

2,500 employees  
€3,000m in negotiated premiums
2.4 million policyholders with health insurance cover and 1.1 million with life insurance cover
Located in 5 countries: France, United Kingdom, Switzerland, Portugal, Italy

 www.adelaidegroup.fr

Press contact

Agence Epoka
Lucie Fortin
[email protected]
+33(0)619687018

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Driven Properties Selects Yardi to Centralise Residential & Commercial Operations & Elevate Customer Experience

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Dubai-based property management company to streamline management processes with a single cloud-based solution

Dubai, UAE, May 20, 2024 /PRNewswire/ — Yardi® is proud to announce that Driven Properties, a leading property brokerage, investment, and consultancy company, has chosen Yardi to enhance its property management operations and resident experience. Driven Properties, known for its extensive residential and commercial portfolios, offers customizable property solutions and wealth management services to clients across the UAE and abroad.

The implementation of the Yardi Residential Suite will allow Driven Properties to optimize their management operations comprehensively – from property marketing and resident screening to rent collection and maintenance. Yardi’s resident portal and app will enable residents to self-serve, enhancing convenience and accessibility by facilitating payments, lease renewals, personal detail management, and real-time maintenance updates.

“At Driven, we’re thrilled to adopt Yardi’s innovative technology to propel our operational capabilities to new heights and ensure unparalleled services for all stakeholders,” shared Grace Kenny, Director of Property Management at Driven. “With Yardi as our central property management platform, we will be able to streamline operations and improve communication across the business.”

“With Yardi’s cloud-based solutions, Driven can eliminate disparate systems, streamline its software requirements into a single solution, improve insights into portfolio performance, and enhance resident and investor relations,” said Said Haider, Senior Director of the Middle East at Yardi. “We are excited to announce Driven Properties as our latest client in the UAE and look forward to helping them further grow across the region.”

Experience how Yardi can seamlessly improve your residential operations with an end-to-end solution.

About Yardi

Celebrating its 40-year anniversary in 2024, Yardi® develops and supports industry-leading investment and property management software for all types and sizes of real estate companies. With over 9,000 employees, Yardi is working with clients globally to drive significant innovation in the real estate industry. For more information on how Yardi is Energised for Tomorrow, visit yardi.ae

About Driven Properties

Driven Properties is an award-winning real estate brokerage and property management company headquartered in Dubai. Since its inception in 2012, the company has been raising standards for the industry, and has grown into one of the leading full-service real estate consultancies in the region.

In a city that is synonymous with real estate, our deeply knowledgeable consultants are offering their expertise and unparalleled service to most demanding clients from all over the world. Driven Properties is a member of Forbes Global Properties, a consortium of 100 best brokerages in the world.

For more information, visit drivenproperties.com.

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SUNRATE joins Mastercard’s Priceless Planet Coalition

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SINGAPORE, May 20, 2024 /PRNewswire/ — SUNRATE, an intelligent global payment and treasury management platform today announced it has joined Mastercard Priceless Planet Coalition in support of fighting climate change through funding the restoration of 100 million trees. This announcement is part of the global fintech’s efforts to contribute to a sustainable economy and improvement of the planet.

“The Priceless Planet Coalition works by uniting companies, communities and consumers in collective, coordinated climate action. By pooling resources, it’s possible to rapidly scale forest restoration work and environmental initiatives, while providing forward-thinking companies like SUNRATE with pre-existing infrastructure that easily – and cost effectively – allows them to have a tangible impact. It is this connectivity that makes the Priceless Planet Coalition different and more effective,” said Sandeep Malhotra, executive vice president, Products & Innovation, Asia Pacific, Mastercard.

Mastercard founded the Priceless Planet Coalition in January 2020 which is guided by climate science and forest restoration experts Conservation International (CI) and World Resources Institute (WRI). The Coalition employs rigorous science-based best practices for the selection, implementation and monitoring of forest restoration efforts.

“Tackling climate change is critical to our sustainability framework and studies have shown that reforestation is key to combating global warming, which in turn influences climate change positively. Therefore, we are proud to join this initiative and work together with Mastercard and other stakeholders to protect our planet and make our lives greener,” said Darren Thang, Head of Marketing of SUNRATE. 

About SUNRATE

SUNRATE is an intelligent global payment and treasury management platform for businesses worldwide. Since its inception in 2016, SUNRATE is recognised as a leading solution provider and has enabled companies to operate and scale both locally and globally in 190+ countries and regions with its cutting-edge proprietary platform, extensive global network, and robust APIs.

With its global business headquarters in Singapore and offices in Hong Kong, Jakarta, London and Shanghai, SUNRATE partners with the top global financial institutions, such as Citibank, Standard Chartered, Barclays and J.P. Morgan. To learn more about SUNRATE, visit https://www.sunrate.com/ 

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eWTP Arabia Capital’s Technology Fund I Recognized as Top Performing VC Fund in the Preqin League Tables

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RIYADH, Saudi Arabia, May 19, 2024 /PRNewswire/ — eWTP Arabia Capital Technology Fund I (“Techology Fund I”), managed by eWTP Arabia Capital (“eWTPA”), one of the leading private equity firms in the Middle East, was listed in the Preqin League Tables as the the fifth top-performing VC funds in the US$250 Million to US$499 Million category by net Internal Rate of Return (IRR) for vintages between 2015-2020.

“We’re delighted by the recognition of our Technology Fund I as a top-performing VC fund in our sector,” expressed Jessica Wong, Founder and Managing Partner of eWTPA. “This milestone underscores the commitment of our team and the robustness of our investment strategy. It also underscores the significant growth potential of the Middle East and North Africa market, particularly in Saudi Arabia, warranting attention. As a pivotal driver of technological advancement in the region, we’re steadfast in our mission to empower entrepreneurs and deliver value to our investors.”

“Being recognized by Preqin validates our hard work and dedication to supporting and actively contributing towards building the Saudi digital ecosystem,” said Jerry Li, Founder and Managing Partner of eWTPA. “As eWTPA continues to grow and expand its investment portfolio, it remains committed to fostering innovation and driving positive change in Saudi, the GCC and the global emerging markets ecosystem.”

eWTPA has demonstrated exceptional performance, solidifying its position among industry leaders. This recognition underscores eWTPA’s commitment to identifying high-potential market opportunities and generating returns for its investors.

The Preqin League Tables are regarded as a comprehensive and authoritative ranking system for private equity and venture capital performance. Preqin, a leading data provider in the alternative assets industry, compiles these league tables based on various performance metrics, including net Internal Rate of Return (IRR) and other key indicators.

eWTPA’s success reflects its strategic approach to investing high-growth sectors in the MENA region. The firm’s portfolio includes a diverse range of companies poised to make a significant impact on their respective industries.

Acting as a bridge between Asia and the Middle East, eWTPA’s Technology Fund I has achieved significant success since its inception in 2019. The Fund has invested in over 18 companies, several of which have successfully established themselves in KSA, like J&T Express, Raha, Sahm and COFE.

About eWTPA:

Founded in 2019, eWTP Arabia Capital is an investment firm based in Saudi Arabia and China. Backed by marquee regional and international Sovereign Wealth Funds, Institutional investors, and family offices, eWTPA helps create robust local digital ecosystems in the MENA region by partnering with market-leading international businesses and providing a gateway for these companies to establish a strong and sustainable presence in the region. To date, eWTPA has invested in over 18 companies, 13 of which have already established themselves successfully in KSA.

Media contact:

Haile Liao
+966 0530868568
[email protected]

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