Ardonagh Europe, a division of the Ardonagh Group based in Ireland, has agreed a deal to buy Groupe Leader Insurance (GLI), a French wholesale and multi‑specialist broker.

Established in 2003 by Yoann Chery, GLI began with a focus on construction risk and later expanded into specialist property and motor insurance.

The group has more than 350 employees across France and abroad and provides insurance products to individuals and small and medium‑sized enterprises via direct channels and a network exceeding 4,000 broker partners.

Following completion, the company will retain its existing brands and management.

GLI president Chery is set to take a shareholding in Ardonagh and will head the group’s operations in France while remaining president of GLI’s holding company, Generation Insurance.

Cyrille de Montgolfier will continue as GLI business supervisory board chairman.

Chery said: “This partnership is unique – Leader Insurance is joining one of the largest independent brokers in the world.

“Ardonagh will enable our group to increase its capabilities thanks to its scale – placing close to $18bn [€15.25bn] of annual premiums – and accelerate strategic growth in France.

“This new alliance also creates fresh opportunities and strengthens our ability to innovate, delivering best-in-class insurance solutions for our loyal brokers and clients from day one.”

The transaction extends the footprint of Ardonagh Europe, which already includes operations in the Austria, Greece, Ireland, Italy, the Netherlands and Switzerland.

Ardonagh Europe CEO Conor Brennan said: “The French insurance market is one of the largest in the world, with a rich tradition and a level of sophistication that makes it particularly attractive for Ardonagh.

“We are now looking forward to working with Yoann and his team to bring new products and innovative solutions to our brokers and clients in France.”