International insurance intermediary Howden has brokered a deal to buy CRF Conseils as part of efforts to expand its French operations.
Howden did not disclose the financial value of the deal, which is the first acquisition in the country since Nicolas Aubert was appointed as the CEO of Howden France.
Founded in 1999, CRF is an independent intermediary specialising in financial lines.
The French broker caters to both financial institutions and tech companies, with services including liability & financial risk insurance, property damage and personal insurance among others.
As per the agreement, Didier Arminjon will continue to serve as CRF CEO and Didier Seigneur as CRF deputy CEO. Seigneur will also take charge as the director of financial lines at Howden France.
Howden Europe CEO Luigi Sturani said: “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 speciality 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.”
Seigneur added: “We are certain that by joining Howden, we will be stronger and better able to support our clients by delivering ever more sophisticated solutions, with the same listening and attention, the same professionalism that we have always had, but leveraging Howden’s international presence and expertise.
“Finally, we will be in a better position to recruit the future talent that our customers need. The opportunities in the market are significant; we will have the means to seize them to strengthen our growth.”
Last month, Howden bought Wallace McLean to bolster New Zealand operations.