Howden to Acquire French Broker OFRACAR

Howden, the London-based insurance intermediary group, announced it has entered into an agreement to acquire OFRACAR, an independent brokerage group headquartered in Rouen, thereby expanding its geographical footprint and capabilities to clients in north-west France.

Financial details of the transaction were not disclosed.

Founded in 1964 by Jean-Pierre Lecomte, OFRACAR is a leading broker in Normandy, with specialisms in property/casualty, employee benefit, motor fleet and transport. With 84 staff in offices in Rouen, Rennes and Lyon, OFRACAR serves around 2000 clients across Normandy and France.

With the acquisition of OFRACAR, Howden France, founded in February 2022, now employs 380 people in 13 offices across the country.

This transaction follows 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. Howden said the acquisitions reflect its strategy to materially broaden its product offering and to deliver more choice for French clients.

“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,” commented Nicolas Aubert, CEO of Howden France.

“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,” Aubert added.

“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,” according to 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,” according to Stéphane Lecomte, CEO of OFRACAR.

“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,” Lecomte added.

Founded in 1994, Howden operates in 55 countries across Europe, Africa, Asia, the Middle East, Latin America, the US, Australia, and New Zealand, employing 17,000 people and handling $38 billion of premium on behalf of clients.

Mergers & Acquisitions

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