What are the criteria that indicates a company has achieved a good year? Is it financial performance? The level of customer satisfaction? The number of new customers acquired? Its market position? Team development? The number of projects completed?
2022 Reflections and looking ahead to 2023
What are the criteria that indicate a company has achieved a good year? Is it financial performance? The level of customer satisfaction? The number of new customers acquired? Its market position? Team development? The number of projects completed?
Actually, there is no single criterion that determines success in a financial year. It’s a combination of factors ranging from financial success to environmental, social and good governance.
All of which Olea has integrated into its recipe for achieving excellent results during the 2021 - 2022 period. It’s the perfect footing fr om which to springboard into 2023.
Volume of premiums placed
The volume of premiums placed by Olea increased from €200M to over €300M in 2021 - 2022. This performance can be seen across Olea’s entire network of subsidiaries, demonstrating the strength of our model.
Our commitment pays off
This confirms renewed client confidence across the Continent. Not everything is perfect though – there are often surprises (good and bad). We ascribe this success to our:
These are all integral to the promises we try to honour every day.
Olea is now rated as one of the top three brokerages in many countries in Africa.
Growth and successes
We’ve experienced a greater balance in turnover distribution between local and regional African clients and international clients. This is the result of both the tailored solutions Olea offers and the increase in partner brokers because of the trust we have earned.
Through Olea Health, growth in health insurance (in 15 countries), has exceeded our expectations, resulting in excellent feedback from our clients and beneficiaries.
Finally, we capitalised on the successful integration of two very important subsidiaries in Angola and Olea South Africa (previously Apio Group) at the end of 2021. This is a testament to our strong position in Southern Africa, along with our presence in Mozambique.
Olea is now the only brokerage network represented in all African regions. Our 2023 projects will further strengthen our Pan-African dynamics.
We have achieved all this despite an anxious and uneasy international environment as a result of the impact of the Covid-19 pandemic, the war in Ukraine, growing terrorist threats in the Sahel, the problems around the supply of raw materials, global warming, growing financial imbalances and high global inflation encountered over the past months.
By the end of 2022, we had 520 employees. However, we plan to strengthen our teams in 2023, both in our subsidiaries and within our management structures. Supporting strong growth, good governance and constantly improving client service, is essential for Olea.
Social and environmental responsibility
As one of the integral pillars of our company’s ethos, we continue to encourage social and environmentally responsible initiatives throughout our network.
Africa – our home
One of the reasons we are so motivated is that we live in Africa – a continent that we love. This love of Africa manifests itself as exciting, stimulating, inspiring and challenging with an enterprising youth and an overflow of energy for the future, regardless of which country we are in.
Promoting Africa is an integral part of our mission.
Africa is growing
Despite many challenges, Africa is experiencing accelerated growth in all areas (infrastructure, energy, services, renewable energy, etc.) The opportunities are immense for a group like Olea, partnering with our clients in providing cover and bespoke solutions for all their development projects.
What’s in store in 2023?
The success achieved during 2022, will continue into an equally exciting 2023. These are:
OLEA to ESA
On January 4, 2023, the members of Olea’s holding company attended the Ecole Supérieure des Assurances de Paris (ESA) to lead a ‘Meet-Up job.’
They met with the students of the ESA, presenting the Olea Group, as well as learning about the different professions and opportunities which exist within the Group.
This created an opportunity to exchange ideas and values within the Group, on the specifics linked to the profession of insurance brokers and to comment on the news within the sector. Olea counts among its employees many former ESA students!
It’s onward and upward for Olea in 2023. A combination of passion, experience, professionalism and mindfulness about our impact on both people and the planet, will continue to be the cornerstone in 2023.