SIACI SAINT HONORE announces the acquisition of CAP MARINE
SIACI SAINT HONORE has completed the acquisition of 100% of CAP MARINE, a leading French broker in the field of marine and transport insurance. Together SIACI SAINT HONORE and CAP MARINE will employ 120 Transport and Marine specialists with turnover for this business line exceeding 30 million euros, making them the undisputed leader in the French market.
The new entity will be able to offer its clients and partners a wider approach to Marine and Transport issues while creating drivers for growth.
“We are delighted to welcome the CAP MARINE teams. This transaction is in keeping with our strategy of external growth and development based on cutting-edge expertise,” said Hervé Houdard, Managing Director of SIACI SAINT HONORE.
Olivier Renault, Founding Chairman of CAP MARINE, said, “We are delighted to join SIACI SAINT HONORE. Our clients will benefit from the complementary skills and technologies of two market-leaders. We will therefore be able to provide them with a high added-value service to secure and develop their international trade.” He continued, “Our two groups share the same culture and the same agility. The integration of our skills base and expertise will therefore be achieved quickly and the strength of this partnership will soon become apparent.”
Pierre Deleplanque, Transport Director at SIACI SAINT HONORE, has been appointed chairman of CAP MARINE and will work alongside the former management team (Olivier Renault, Emmanuel Pellerin and Bertrand Faurisson) who will continue to play a key role in this new entity. He said, “We have identified a large number of value-creating synergies. CAP MARINE will be able to rely on the expertise and strength of a large group with a strong international presence. We will, for our part, acquire new expertise in certain sectors such as the insurance of merchant fleets, specialized ships and maritime projects, thus further improving the service we provide to our clients.”
For reasons of operational efficiency, the CAP MARINE head office will remain in Rouen and each brand will retain its own identity.
About SIACI SAINT HONORE
SIACI SAINT HONORE, one of the leading providers of brokerage and consulting services in the French insurance market, supports large and mid-cap companies in the management of their property and personal insurance risks in France and around the world. The Group designs and develops customized solutions for its corporate clients in Property & Casualty, Marine, Employee Benefits, Retirement, HR Strategy & Total Rewards and International Mobility. SIACI SAINT HONORE’s services encompass the entire value chain from risk management consulting to the management of insurance plans. The firm has currently more than 1,800 employees worldwide, insures 1.2 million individuals in France and abroad and reported turnover of €269 million in 2015.
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About CAP MARINE
CAP MARINE, a leading, long-standing player in marine insurance, has particular experience in merchant fleets and fishing and river vessels, logistics and maritime projects as well as industrial and trading risks in France and around the world. The firm, which has 50 employees, reported turnover of 8 million euros in 2015.