The world of French insurance brokerage is being reconstituted.
The groups Siaci Saint Honoré, number two in the sector in France, and Diot, owned by the Burrus family group and number seven, finalized their marriage on Wednesday.
This union gave birth to the first French insurance broker, ahead of Gras Savoye, a subsidiary of the British giant Willis Towers Watson.
"The new group is entering the big leagues in France, joining Gras Savoye, Marsh, Aon and April for individuals",
observes Christophe Angoulvant, partner at Roland Berger law firm.
In fact, with nearly 700 million euros in turnover and 5,000 employees in 42 countries, this new European champion, called Diot-Siaci, ranks 18th in the world.
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“There is a really strong complementarity between our two companies
, underlines Pierre Donnersberg, founder of Siaci Saint Honoré and future president of the new group.
It is a real alternative to Anglo-Saxon groups. ”
Siaci Saint Honoré is mainly a broker for large companies and expatriates, while Diot is more positioned on medium-sized companies (ETI).
The new group is already planning to go public in the next three to four years.
"This will definitely bring stability to the shareholding"
, declared in July Christian Burrus, leader of the group of the same name, who will become CEO of Diot-Siaci.
A listing would allow the group to strengthen its international position, by bringing together European brokers invited to the capital.
Today, the Burrus group and the directors hold the majority of the capital of Diot-Siaci.
They are supported by a consortium of investors led by the Canadian pension fund OTPP (30%), alongside in particular Bpifrance (10%) and Cathay Capital (5%).
