DIOT-LSN and SIACI SAINT HONORE finalize their merger and create a leading independant european insurance broker
November 17, 2021 – The merger between the DIOT-LSN and SIACI SAINT HONORÉ groups has been given the green light from the European Union and the regulators and authorities in the various countries where the new Group will be operating. The birth of the leading independent European insurance broker operating worldwide took place on November 16, 2021. The new group will generate turnover of almost €700 million, with 5,000 employees in 42 countries.
The transaction signed on July 2 between the BURRUS GROUP, headed by Christian Burrus the majority shareholder of DIOT-LSN, and SIACI SAINT HONORE, chaired by Pierre Donnersberg, was completed on November 16, paving the way for the creation of a new European leader in insurance brokerage, reinsurance and risk management consulting.
By becoming one of the world's top 10 players in large corporate risks, the new group is positioning itself as a key player in this market alongside the global brokers from across the Atlantic.
The Burrus Group and the management of the new entity will hold the majority of the capital and voting rights, thus guaranteeing its independence. Alongside them, the presence of leading investors, led by the Canadian pension fund Ontario Teachers' Pension Plan Board with a 30% stake, Bpifrance with 10%, Cathay Capital with 5% and Mubadala Investment Company in addition to Ardian which is already an existing shareholder in the SIACI SAINT HONORE Group, confirms the international ambitions of the new Group.
Pierre Donnersberg will be Chairman of the new "DIOT-SIACI" group and Christian Burrus will become Vice-Chairman and Managing Director within an Executive Committee of directors from both entities.
In Switzerland, Swiss Risk & Care and Qualibroker, respectively subsidiaries of SIACI SAINT HONORE and GROUPE BURRUS, will gradually begin to merge to create a single coherent and ambitious Group.
For Pierrick Leprince, CEO of Swiss Risk & Care: "We will take the necessary time to make this merger a success both internally and externally. It reinforces our position as a leader in French-speaking Switzerland. Our top priority remains to serve our clients."
Grégory Féret, CEO of Qualibroker adds: "The skills and experience of the employees of our two groups will enable us to help our clients face the current challenges of a rapidly changing market."
About SWISS RISK & CARE