International insurance broker, Howden, has agreed to acquire Théorème, a family-owned corporate insurance broker headquartered in Paris.
Upon completion, Xavier de Font-Réaulx will serve as General Manager of Théorème, and will report to Nicolas Aubert, CEO France.
This acquisition follows Howden’s recent agreement to acquire broker firm CFR, the firm’s first acquisition in France since appointing Nicolas Aubert as CEO of Howden France.
Luigi Sturani, CEO, Howden Europe said: “Our ambition to position ourselves as one of the leading brokers in Europe is no secret. Partnering with strong strategic and culturally aligned businesses, attracting the industry’s top talent – Théorème’s Xavier de Font-Réaulx and his team -0020and unlocking organic growth is enabling Howden to rapidly grow across the Continent and establish itself as the European-focused alternative in the broking market.
“The acquisition of Théorème brings us a step closer in fulfilling our ambition to position ourselves among the leading brokers in France and we’re looking forward to welcoming Théorème’s employees and clients to Howden.”
Founded in 1991, Théorème has grown to become a significant broker in France, with a market-leading Motor Fleet platform and specialisms within Property & Casualty and Employee Benefits.
According to the firm, Théorème is uniquely placed in the market to service large, medium and small corporate clients across the full insurance value chain, with a multi-specialist approach and deep specialism and expertise.
Nicolas Aubert, CEO, Howden France commented: “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.”
Xavier de Font-Réaulx, President, Théorème 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.”