History of Eurapco
A little over twenty years ago 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 as well as foreign competition was increasing. With an outlook to even further privatisation and EU-deregulation (and even a single currency), many European financial services 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 of the founding Partners were strong players in their domestic markets, but were small compared to major European groups. 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 in order to create or maintain a competitive advantage for the Partners. In 2000 Achmea was renamed into the Eureko Group, and therefore the Eureko Alliance was renamed into Eurapco. Since 1992 the composition of the Alliance has changed a few times. Topdanmark and Friends Provident left and two new members, Caser and LocalTapiola, joined. This resulted in the current composition of 8 Partners.