Howden launches in France with purchase of independent broker
Global broker Howden has marked its first acquisition in France with the purchase of an independent broker specialising in financial lines.
The acquisition of CRF Conseils (CRF), founded in 1999, is Howden’s first in France since appointing Nicolas Aubert as CEO of Howden France.
Howden said that CRF uses its strong technical knowledge to accelerate the creation of innovative solutions for clients, in alignment with Howden’s own business strategy.
“This acquisition is the best way to launch ourselves in France as a credible and differentiating alternative,” said Aubert. "The CRF team have best-in-class backgrounds and reputations in the market and their decision to join Howden is a signal to the market of our commitment to build a new broker in France, which is founded on expertise and quality of talent and that brings value to all of our stakeholders, including entrepreneurial talent, clients and insurance partners.”
CRF CEO Didier Arminjon said: “We have been approached several times to sell our business, which we have always declined. Why? Our autonomy and the entrepreneurial side of our business are essential. We strongly believed that we would only join a group that shares our DNA and having had the opportunity to meet the leaders of Howden on various occasions, and to listen to them talk about their culture, their values, their priorities, their vision, we knew that Howden could be the ideal partner for us.”
Luigi Sturani, CEO of Howden Europe added: “In a market that is crying out for European-focused alternatives our strategy is simple: to develop a strong territorial presence in Europe and offer a unique range of specialty solutions for our clients. We will accomplish this by attracting the best entrepreneurial talent and like-minded companies, and by growing organically. The acquisition of CRF is a great initial step in our ambition to position ourselves among the leading brokers in France and I am looking forward to welcoming the team to Howden.”
When the deal is completed, subject to regulatory approval, Didier Arminjon will remain CEO of CRF. Didier Seigneur will stay as deputy CEO of CRF and will also assume the title of director of financial lines, Howden France.
Eric Demange, Adrien Laplane and Delphine Voltolini have joined Howden France as commercial director and deputy CEO, CFO, and director of operations respectively.
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