Covéa reports solid 2022 results

The Covéa group has ended the financial year 2022 with a 19% increase of its turnover to 22.7 billion EUR (24.2 billion USD). PartnerRe, acquired on 12 July 2022, accounted for 4.1 billion EUR (4.4 billion USD) of this amount.

The net profit has progressed by 7% to reach 896 million EUR (956.5 million USD), including 348 million EUR (371.5 million USD) generated by the Bermudan reinsurer.

As at 31 December 2022, the company's shareholders' equity amounted to 17.6 billion EUR (18.8 billion USD), while the solvency ratio stood at 226%.