DIOT-LSN AND SIACI SAINT HONORE FINALIZE THEIR MERGER AND CREATE A LEADING INDEPENDENT EUROPEAN INSURANCE BROKER
November 19, 2021
Paris, November 17, 2021 – The merger between the DIOT-LSN and SIACI SAINT HONORE groups has been given the green light from the European Union and the regulators and authorities in the various countries where the new Group will be operating. The birth of the leading independent European insurance broker operating worldwide took place on November 16, 2021. The new group will generate turnover of almost €700 million, with 5,000 employees in 42 countries.
The transaction signed on July 2 between the BURRUS GROUP, headed by Christian Burrus the majority shareholder of DIOT-LSN, and SIACI SAINT HONORE, chaired by Pierre Donnersberg, was completed on November 16, paving the way for the creation of a new European leader in insurance brokerage, reinsurance and risk management consulting.
The Burrus Group and the management of the new entity will hold the majority of the capital and voting rights, thus guaranteeing its independence. Alongside them, the presence of leading investors, led by the Canadian pension fund Ontario Teachers’ Pension Plan Board with a 30% stake, Bpifrance with 10%, Cathay Capital with 5% and Mubadala Investment Company, in addition to Ardian, which is already an existing shareholder in the SIACI SAINT HONORE Group, confirms the international ambitions of the new Group.
Pierre Donnersberg will be Chairman of the new “DIOT-SIACI” group and Christian Burrus will become Vice-Chairman and Managing Director within an Executive Committee of directors from both entities.
By becoming one of the world’s top 10 players in large corporate risks, the new group is positioning itself as a key player in this market alongside the global brokers from across the Atlantic. In France, thanks to its national network, it is strengthening its position in the Large Companies, Mid-cap and SME-SMI market in personal insurance, international mobility, property and liability, marine and transport, and credit insurance and reinsurance.
Pierre Donnersberg said: “We are delighted to be able to finalize our corporate venture which now positions us as the French leader in our sector with a clear international strategy. We will seize new growth opportunities and make the most of all our synergies to better serve our clients all around the world.”
Christian Burrus emphasized: “We share an ambition and values that place people and jobs at the heart of this project. We are committed to our independence, guaranteed by a strong family shareholding which safeguards the interests of our employees, our clients and our investors.”
DIOT-SIACI is a leading insurance brokerage and consulting group in France, operating in more than forty countries. It designs and develops customized solutions for its clients which include Large and Mid-cap companies, SMEs-SMIs and professionals, in personal insurance, and property and liability insurance. DIOT-SIACI has a stable, family-owned shareholding base which means it can support its clients over the long term and across the entire value chain in Property & Casualty, Marine and Cargo, Professional Liability, Employee Benefits and Consulting and International Mobility. The Group has almost 5,000 employees and expects to achieve turnover of almost €700 million in 2021.