A leading underwriting agency in France for specialized insurance
100 years of experience in transport insurance for the main insurance companies and brokers. This is what four friends have accumulated: Patrick de La Morinerie, Olivier Raimond, Charles Gounel and Michele Abbracciavento, partners and founders of WeSpecialty.
The four insurers tapped this wealth by founding the WeSpecialty underwriting agency in 2016. Their added value? It operates on behalf of the leading insurance companies in so-called specialist sectors, allowing them to expand their client base without investing in niche knowledge.
Between maritime transport insurance and political risks, the agency’s experience is aimed at companies with an international orientation, whether they are industrial companies, traders of raw materials, logistics and shipowners.
With this deep knowledge of these areas, WeSpecialty, which for 6 years did not exist, is now a leader in the specialty insurance market. Both experience and synergy work wonders.
Large groups and SMEs: an agency that expands its offer and expands to new customer segments
Get out of your comfort zone? WeSpeciality never intended to limit itself to its traditional customer segment, ie large corporate commodity merchants.
Proof of this, the young agency carried out in July 2022 -it is never too early- the acquisition of Cogeas, another agency 54 years older than it, specialized in marine insurance and political risks. This valuable acquisition, very complementary in terms of the market, allows it to enrich its range of products and position itself in new customer segments: SMEs and ETI.
Result: The group is now strong with over 20 underwriting and administration mandates given by major continental companies and some leading Lloyds syndicates. With a global client base of approximately €40 million in premiums, the agency now insures CAC40 companies, as well as SMEs and ETIs.
Majority-owned by its management, the group of 25 employees is now spread across offices in Rouen, Nantes and Paris, which complement each other in terms of expertise, customer segments and product lines. The underwriting agency also ensures that each entity maintains its own operation, these differences enriching its overall portfolio.
Experience gathered in an entrepreneurial ecosystem
Ships and port equipment, freight transport, liability in the field of transport, violence and political risks including the frustration of the contract… WeSpeciality expands its offer by developing 6 lines of specialized insurance products. This new position as leader in the French special insurance market provides it with the financial and technical means to conquer foreign markets and continuously enrich its range of products.
But it is also (and above all) its DNA that perpetuates the dynamic: the combination of the mechanics of a subscription agency with that of an incubator. An incubator that allows you to surround yourself with talent and experts to prioritize the identification of new risks… and thus expand the range of offers in the specialty insurance market.
With an entrepreneurial philosophy, this group has the vocation of attracting talent whose experience does not represent enough added value in large insurers with greater limitations.
Always on the go, the leader in specialty insurance plans to double its product lines by 2025, aiming for 3-fold revenue. How?
Specializing and expanding its offer.
This content was produced with AGENCE DELTA. The BFMBUSINESS editorial team was not involved in the production of this content.
Source: BFM TV
