How Everything Started
The history of Eurapco started twenty-nine years ago when the EU common market was created. Simultaneously, the European insurance industry experienced a significant consolidation wave, shaking up any previously existing market compositions. In the meantime, new technologies and distribution channels were becoming available to the greater public and both domestic and foreign competition was increasing.
With an outlook to even further privatisation and EU-deregulation (and a single currency), many European financial service providers decided to join forces in Alliances.
Against this background, the Eureko Alliance was formed in 1992. The founding Partners consisted of WASA (now Länsförsäkringar), AVCB (now Achmea), Topdanmark and Friends Provident.
All the founding Partners were strong players in their domestic markets but were small compared to major European groups. However, jointly they had enough influence to compete with these groups on a European Level. The Alliance’s primary goals were to share knowledge and experience to create or maintain a competitive advantage for the Partners.
In 2000 Achmea was renamed to the Eureko Group, and the Eureko Alliance was therefore renamed to Eurapco. Since 1992 the composition of the Alliance has changed a number of times. Topdanmark and Friends Provident exited and two new members, Caser and LocalTapiola, joined. This resulted in the current composition of eight Partners.
In the coming years, we will continue to focus on intensifying the collaboration and accelerating innovation between our Partners. Not only will we create value from exchanging knowledge as the foundation of the collaboration, but also from developing joint business opportunities and cross-border learning and development activities.