UK-based insurance intermediary Howden has brokered a deal to buy French insurance firm Théorème for an undisclosed sum.

Paris-headquartered Théorème is a family-owned insurance broker led by Xavier de Font-Réaulx.

Founded in 1991, the French firm specialises in the property & casualty and employee benefits lines of business.

Théorème caters to large, medium and small corporate clients across the full insurance value chain.

It also operates a motor fleet platform.

Currently, the firm serves 1,500 clients via its offices in Paris, Annecy and Nantes.

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The agreement follows Howden’s decision to buy France-based financial lines broker CRF Conseils.

Howden France CEO Nicolas Aubert said: “Théorème offers knowledge and technical skills that will allow us to both expand and enhance our client proposition in France. The firm’s multi-specialist positioning is highly complementary to Howden’s capabilities and Théorème’s motor fleet platform is unmatched.

“Building on our acquisition of CRF, our purchase of Théorème reasserts our ambition to build a platform based on advanced experience and expertise, which will welcome the best talent in the French insurance market.”

Théorème president Xavier de Font-Réaulx said: “We are proud of the entrepreneurial and autonomous culture that we have developed and nurtured at Théorème over the past 30 years. When it came to thinking about the future of our family business, after many steps, we enthusiastically chose to join Howden.

“Joining the Howden “family” is ideal for us. We have common principles centred on expertise, collective culture, a vision for employees and a customer-centric approach.”