The SIACI SAINT HONORÉ and the BURRUS groups announce plans to merge and create an independent european leader in insurance consulting and brokerage
Ontario Teachers’ Pension Plan (OTPP) board will lead the investor consortium and acquire a 30% stake in the combined group, becoming the largest institutional shareholder. Bpifrance and Cathay Capital will acquire a 10% and 5% stake respectively.
Geneva, July 2nd, 2021 - The management of the SIACI SAINT HONORÉ Group, the leading independent French insurance broker, and Christian Burrus, the majority shareholder of DIOT and LSN, have signed an agreement to create the leading independent European insurance broker operating worldwide. A consortium of institutional investors, led by Ontario Teachers’ Pension Plan Board (“Ontario Teachers”) and including Bpifrance and Cathay Capital, will become significant shareholders in the Group.
With this transaction, the BURRUS GROUP, headed by Christian Burrus, together with the management of the newly formed Group will hold the majority of the share capital and voting rights in the Group, guaranteeing its independence and sustainability. Pierre Donnersberg will become Chairman of the group and Christian Burrus Managing Director.
In Switzerland, this operation initiates the merger of Swiss Risk & Care and Qualibroker, these two companies being respectively subsidiaries of SIACI SAINT HONORE and GROUPE BURRUS COURTAGE.
The merger of SIACI SAINT HONORÉ and BURRUS GROUP will create a significant independent European alternative to the major global brokers.
The combined Group will strengthen its market position in Switzerland, in France, in Europe and around the world in the large company, public entities, mid-cap and SME market segments, in insurance, pension and HR services.
The combined Group will be among the top 10 global players in the sector with a turnover of almost €700 million and close to 5,000 employees in over 40 countries.
As part of this transaction, Charterhouse Capital Partners, which acquired a majority stake in SIACI SAINT HONORÉ’s in 2018, will exit the business, following a period of significant organic and acquisitive growth under its ownership. Ontario Teachers’ Pension Plan will acquire a 30% stake and become the largest institutional shareholder in the newly formed Group, with Bpifrance (10%) and Cathay Capital (5%), alongside other institutions like Ardian, comprising the remaining shareholders.
The transaction is expected to close in the second half of 2021, subject to customary regulatory and anti-trust filings.
The transaction is expected to close in the second half of 2021, subject to customary regulatory and anti-trust filings.
About SIACI SAINT HONORÉ
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 turnover of €465 million.
www.s2hgroup.com
www.s2hgroup.com
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Havas - Amélie de Bourbon Parme +33 6 09 01 68 25 et Ania Ould Lamara +33 6 02 18 68 53
About BURRUS GROUP
The Burrus Group, formed in 1923 through acquisitions with subsequent organic growth, is made up of some fifty companies. While historically positioned in insurance, it developed strongly in brokerage and diversified its activities into financial management and consulting, and then technology. Today, the group operates with more than 1,500 employees in 7 European countries.
www.groupe-burrus.com
Press relations :
GROUPE BURRUS - Isabelle Ecckhout
About ONTARIO TEACHERS’ PENSION PLAN
The Ontario Teachers’ Pension Plan Board is the administrator of Canada’s largest single- profession pension plan, with C$221.2 billion in net assets (as of December 31, 2020). It holds a diverse global portfolio of assets, approximately 80% of which is managed in-house, and has earned an annual total-fund net return of 9.6% since the plan’s founding in 1990. Ontario Teachers’ is an independent organization headquartered in Toronto. Its Asia-Pacific region offices are located in Hong Kong and Singapore, and its Europe, Middle East & Africa region office is in London. The defined-benefit plan, which is fully funded, invests and administers the pensions of the province of Ontario's 331,000 active and retired teachers. Ontario Teachers’ investment is being made through its Private Capital team, one of the world’s pre-eminent private equity investors, which adds value to companies through its flexible support and active ownership model.
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Hugh Christopher +1 (416) 844-7463 | media@otpp.com
Kekst CNC : Neil Maitland +44 7971 578 507 | otpp@kekstcnc.com
About CHARTERHOUSE
Charterhouse is one of the longest-established private equity firms operating in Europe supporting entrepreneurs, founders and management teams in their growth plans and particularly in their international development. Charterhouse follows a highly selective investment approach by investing in a limited number of companies with exceptional qualities. Transactions range from €150 million to €1.5 billion. Charterhouse has a team of investment professionals with experience gained from over 140 acquisitions since its inception, with a total value in excess of €23 billion, including over €3 billion invested in France, making Charterhouse one of the country’s leading foreign investors.
www.charterhouse.co.uk
www.charterhouse.co.uk
About SWISS RISK & CARE
Swiss Risk & Care is the leading broker in French-speaking Switzerland in the fields of insurance, pension and human resources services. It positions itself as a solution architect for its clients, both companies and individuals. Its mission is to deliver high value-added services in response to the challenges that decision-makers face on a daily basis.
www.swissriskcare.ch
www.swissriskcare.ch
Press relations :
Valérie Cruchet
+41 79 665 96 41 | vcruchet@swissriskcare.ch