SIACI SAINT HONORE reaches its targets during the health crisis
The SIACI SAINT HONORE Group, a leading provider of consulting and brokerage services in corporate property and personal insurance for companies, has announced gross revenue of €465 million at the end of the 2020 financial year with net revenue up 1%.
The 2020 financial year was marked by the combined effects of an unprecedented health crisis and sluggish global growth. Against this backdrop, the SIACI SAINT HONORE Group recorded gross revenue of €465 million, while its net revenue and gross margin increased by 1% and 2% respectively.
Despite the impact of Covid, with some activities being particularly affected by the current economic climate, the Group's average growth over the last five years is almost 10%. Without the effects of Covid, growth in 2020 would have been 6%* with gross revenue of around €500M in line with its targets.
Siaci Corporate & Specialty (SCS) recorded total gross revenue of €202M, down 1%. Its net revenue, however, grew by 4%, driven by a stable property and casualty line and an expanding Marine business, particularly internationally.
The effects of the health situation were also felt in personal insurance where the Employee Benefits and Consulting business (PSC) reported gross revenue of €165M, holding up well despite the negative impact of the crisis on company staffing levels. Gross revenue from PSC's life and disability business continued to grow (up 2%). Similarly, PSC is making progress across all of its retirement, HR consulting and employment-to-retirement transition businesses, in line with its strategy of bringing high value-added services to the market.
Moreover, in an extremely difficult health situation worldwide, MSH International, which specializes in insurance coverage for internationally mobile individuals, recorded a 1%* increase in gross revenue to €98M despite the sudden ban on international students traveling to North America.
International business remained stable* overall across all lines with gross revenue of €159M, almost 34% of the total figure, while France accounted for €306M. The Group's Swiss subsidiary, Swiss Risk & Care, grew by 3%, as did China, which recorded a similar increase in gross revenue.
“In an environment marked by an unprecedented crisis, our Group has demonstrated the resilience of its model. We continue to perform well, and in line with our targets, despite the undeniable impact of Covid on our clients and our business. I remain confident in our ability to mitigate its effects and serve our clients all over the world,” said Pierre DONNERSBERG, Chairman of the SIACI SAINT HONORE Group.
About SIACI SAINT HONORE
SIACI SAINT HONORE, a leading provider of consulting and brokerage services in property and personal insurance, designs and develops customized solutions for its large, mid-cap and SME corporate clients. The Group assists them over the entire value chain to manage their risks in Property and Casualty, Marine and Cargo, Employee Benefits and Consulting and International Mobility. The firm has more than 3,000 employees and insures 3 million individuals worldwide. In 2020 it reported revenue of €465 million.