Howden bolsters presence in France with acquisition of brokerage group, OFRACAR
Global re/insurance broker Howden has entered into an agreement to acquire OFRACAR, an independent brokerage group headquartered in Rouen.
Established in 1964 by Jean-Pierre Lecomte, OFRACAR is a broker based in Normandy, that specialises in property & casualty, employee benefit, motor fleet and transport.
The company consists of 84 staff in offices based in Rouen, Rennes and Lyon.
Overall, OFRACAR serves around 2000 clients across Normandy and France.
This acquisition will play a pivotal role in expanding Howden’s geographical footprint and capabilities to clients across north-west France.
Following the acquisition of OFRACAR, Howden France – founded in February 2022 – will now employ 380 people in 13 offices across the country.
Moreover, this transaction follows on from Howden France’s recent acquisitions of Financial Lines specialist C.R.F. Conseils, Motor Fleet broker Théorème, Maritime specialist, Seasecure/Guian, and hospitality broker GTCA – CFC Consultants.
“OFRACAR has been recognised as a market leader for several decades, and thanks to this new acquisition, we are welcoming a talented team and integrating new offerings to broaden our expertise. Already present in Normandy with a team dedicated to the Maritime sector, we are underlining our commitment to regional development by expanding our capabilities and accelerating the delivery of Howden’s global specialty expertise into local markets for the benefit of local clients,” commented Nicolas Aubert, CEO of Howden France.
“This acquisition marks an exciting next step in our growth journey, reflecting the significant expansion of our operations in France over the last two years. This expansion stands as a testament to our patient and strategic commitment to the country. We have become a scale operator in every major insurance market in Europe, and we continue to deliver our long-stated ambition to build the leading European broker for both clients and talent by partnering with the very best businesses,” said Luigi Sturani, CEO of Howden Europe.
“Our commitment to shaping the future of all our employees has led us to choose Howden as our next partner – an international broker with an entrepreneurial ethos and ambitious growth plans in France. I am thrilled to continue OFRACAR’s 60-year legacy with our colleagues in Howden France, who share our entrepreneurial spirit and People First culture. Our unified teams are now perfectly positioned to assist SMEs and mid-sized companies across the Normandy region, throughout France, and across Europe,” added Stéphane Lecomte, CEO of OFRACAR.
