Global insurance intermediary group Howden has reached an agreement to acquire the AGEO brokerage group, an independent Employee Benefits insurance broker headquartered in Paris.
Founded in 1984 by Eric and Maryse Oziebala, AGEO specialises in Employee Benefits, health insurance, policy administration and claims management platform, Retirement & Pensions services and boutique P&C capabilities.
According to Howden, the acquisition positions its French segment as a leading Employee Benefits broker in the country’s insurance market
It will also reportedly increase Howden’s Employee Benefits division’s global headcount to over 2,500 and enhance its ability to meet the needs of a wide range of clients from local SMEs to multinational clients.
“This latest development follows Howden France’s recent acquisitions of Financial Lines specialist C.R.F. Conseils, Motor Fleet broker Théorème, Maritime specialist Seasecure, hospitality broker GTCA – CFC Consultants, and OFRACAR in April 2023, reflecting Howden’s continuing strategy to invest in local specialist expertise and to bring the full force of its global capabilities for the benefit of clients in local markets,” the firm added.
Nicolas Aubert, CEO, Howden France, commented, “I am delighted to welcome AGEO, a well-respected company with strong expertise and an outstanding reputation in Employee Benefits, into Howden France.
“With our expanded capabilities, we can now broaden the services we offer our clients and strengthen our market position by establishing ourselves as a leading Employee Benefits insurance broker in France. I am looking forward to working with the AGEO team to grow together and better serve our clients.”
Eric Oziebala, President, AGEO Group, said, “After 40 years of development, we have decided to join Howden because it shares our values of people, quality and innovation. Together, we will continue to innovate and grow, and our combined scale will enable us to serve our customers even better.
“Maryse and I are delighted to be able to be part of the move to join Howden, and then to pass on the baton to a solid younger management team, who will bring a new dynamic to this fine project for a long time to come… the adventure has only just begun!”
Glenn Thomas, Global Head of Health & Benefits, Howden, continued, “Acquiring AGEO Group marks a significant milestone for Howden as we continue to solidify our presence in one of the largest and most strategically important Employee Benefits markets in the world.
“France is home to numerous multinational companies, making it a vital market for our global footprint. This acquisition not only strengthens our capabilities in France but also enhances our ability to deliver comprehensive global Employee Benefits to our multinational clients worldwide.
“We are excited to welcome the talented AGEO team to the Howden family and look forward to the opportunities ahead as we grow together.”
Luigi Sturani, CEO, Howden Europe, noted, “The acquisition of AGEO once again highlights the great opportunities Howden provides for companies with the right culture.
“Together, we’ll drive growth in France and beyond, as we keep expanding across Europe. With more than 4,500 colleagues and 150 branches in 23 countries, we are already the best choice for clients in the region.”
