Howden seizes ‘extraordinary opportunity’ with swoop for large French broker
International insurance broker Howden has continued its French expansion with yet another acquisition that will significantly enhance its offering in the “specialties” market, enabling rapid growth across the continent.
Howden has acquired one of France’s largest marine and cargo insurance brokers Seasecure Group as it looks to expand its product offering in the French market.
Founded in 2008 and headed by Jean Brossollet, Seasecure comprises two operating entities, Seasecure and Guian, having acquired the latter, a Le Havre-based marine broker, in 2018. Together, Guian and Seasecure serve shipowners, charterers, operators, and all actors in the supply chain. Guian’s expertise is particularly recognised in the fields of merchant and service vessels, inland waterways and French & international fisheries insurance.
From its headquarters in Le Havre and offices in Paris, Marseille and Lorient, Seasecure serves more than 2,000 customers, from large companies to SMEs and craftsmen. Following the acquisition, Brossollet will become director of marine and cargo for Howden France, reporting to Nicolas Aubert, president and general manager, Howden France.
The deal follows Howden France’s recent acquisitions of financial lines specialist C.R.F. Conseils and motor fleet broker Théorème, reflecting its strategy to materially broaden its product offering to French clients. These partnerships also accelerate the delivery of Howden’s global specialty expertise into local markets.
Aubert said: “Seasecure and Guian provide the talent, technical knowledge and skills that will allow us to both expand and enhance our platform in France. Their specialist positioning is perfectly aligned with our strategy for Howden France. Building on the acquisitions of C.R.F and Théorème, this latest deal reaffirms our ambition to build a platform based on leading experience and expertise, which will welcome the best talents in the French insurance market.”
Brossollet commented: “Seasecure and Guian are among the last French brokers whose activity is exclusively dedicated to risk management in the Marine and Cargo sector. We operate in a fast-moving environment, which requires both to be at the forefront of expertise, and to meet all the insurance needs of the companies that place their trust in us.
“Howden’s ambition is to be one of the leading brokers in France, with a strong presence in the country and a range of services in the “specialties”. By combining our expertise and our energy to develop an ambitious - and necessary - alternative in the French market, we will be able to offer our clients a comprehensive range of services. With the acquisition of Seasecure and Guian, Howden is laying the foundations of a Marine branch that will be significant in France. This combination opens up tremendous opportunities for our clients and our teams!”
Luigi Sturani (Pictured), CEO, Howden Europe said: “Our strategy is simple: to develop a strong territorial presence in Europe and offer a unique range of specialty solutions for our clients. Partnering with strong strategic and culturally aligned businesses is enabling Howden to rapidly grow across the Continent. The acquisition of Seasecure Group, the last remaining independent marine broker in France, brings us a step closer in fulfilling our ambition to position ourselves among the leading brokers in France. I’m looking forward to welcoming Seasecure Group’s employees and clients to Howden.”
Aubert added: “Having Jean’s experience and enthusiasm to drive our strategy and our Marine and Cargo business is an extraordinary opportunity for Howden. Thanks to him, we have a great team and look forward to strengthening it across France by welcoming other industry specialists who want to join our project.”
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