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The acquisition marks the third in France in recent months after Howden acquired C.R.F. Conseils and Théorème earlier in the year. -
The transaction will bring a $250mn GWP broker with multiple brands and international footprint into the group.
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The Dutch broker will continue to operate independently as part of the Ardonagh Group, led by Sunny and Nico Léons.
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AUB chief Mike Emmett says the deal is “strategically aligned and financial compelling”.
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The digital investments arm of Allianz Group has been a strategic investor in the Berlin-based InsurTech since 2016.
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It is the second acquisition under the leadership of new CEO of France Nicolas Aubert.
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Plus all the top news from the Monte Carlo Rendez-Vous and this week’s exclusive executive moves.
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Westfield will take on 2021 and 2022 as part of the agreement, but it is not yet clear if 2020 will be included in a legacy deal Argo struck this year for 2018 and 2019 in the run-up to sale.
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Goldman Sachs has reapproached potential bidders as the Bermudian moves rapidly following the recent legacy deal and divestiture.
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CCR is being advised by investment banks Credit Suisse and Messier, as it explores options to bring in fresh capital.
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The industry veteran was named EVP and head of international insurance by the US carrier.
