Howden Acquires French Marine Insurance Broker Seasecure Group

October 5, 2022

Howden, the London-based insurance broker, announced it has acquired Seasecure Group, the last remaining independent marine broker in France.

Seasecure Group is one of France’s largest marine and cargo insurance brokers, and underlines Howden’s continued investment in expertise and desire to expand its product offering for the benefit of clients in the French market.

Financial details of the deal were not disclosed.

Founded in 2008 and headed by Jean Brossollet, Seasecure comprises two operating entities, Seasecure and Guian, having acquired the latter, a Le Havre-based marine broker, in 2018. Together, Guian and Seasecure serve shipowners, charterers, operators, and all actors in the supply chain. Guian’s expertise is particularly recognized in the fields of merchant and service vessels, inland waterways and French and international fisheries insurance. The Seasecure Group has 43 employees.

From their headquarters in Le Havre and offices in Paris, Marseille and Lorient, Seasecure Group serves more than 2,000 customers, from large companies to small and medium-sized enterprises (SMEs) and craftsmen.

With the acquisition completed, Jean Brossollet will become director of Marine and Cargo for Howden France, reporting to Nicolas Aubert, president and general manager, Howden France.

This latest transaction follows Howden France’s recent acquisitions of financial lines specialist C.R.F. Conseils and motor fleet broker Théorème, reflecting its strategy to materially broaden its product offering and to deliver more choice for French clients. These partnerships also accelerate the delivery of Howden’s global specialty expertise into local markets.

“Seasecure and Guian provide the talent, technical knowledge and skills that will allow us to both expand and enhance our platform in France. Their specialist positioning is perfectly aligned with our strategy for Howden France,” commented Aubert. “Building on the acquisitions of C.R.F and Théorème, this latest deal reaffirms our ambition to build a platform based on leading experience and expertise, which will welcome the best talents in the French insurance market.”

“Seasecure and Guian are among the last French brokers whose activity is exclusively dedicated to risk management in the marine and cargo sector. We operate in a fast-moving environment, which requires both to be at the forefront of expertise, and to meet all the insurance needs of the companies that place their trust in us,” said Jean Brossollet, general manager, Seasecure Group.

“Howden’s ambition is to be one of the leading brokers in France, with a strong presence in the country and a range of services in the ‘specialties.’ By combining our expertise and our energy to develop an ambitious – and necessary – alternative in the French market, we will be able to offer our clients a comprehensive range of services,” Brossollet continued. “With the acquisition of Seasecure and Guian, Howden is laying the foundations of a marine branch that will be significant in France. This combination opens up tremendous opportunities for our clients and our teams!”

Luigi Sturani, CEO, Howden Europe, said: “Our strategy is simple: to develop a strong territorial presence in Europe and offer a unique range of specialty solutions for our clients. Partnering with strong strategic and culturally aligned businesses is enabling Howden to rapidly grow across the Continent. The acquisition of Seasecure Group, the last remaining independent marine broker in France, brings us a step closer in fulfilling our ambition to position ourselves among the leading brokers in France. I’m looking forward to welcoming Seasecure Group’s employees and clients to Howden.”

About Howden

Howden France is part of Howden Broking Group, which is a leading independent provider of re/insurance brokerage, risk consulting and employee benefits advice. Howden is headquartered in the UK and operates in 90 countries, comprises 45 owned businesses across Europe, Asia, Africa, Latin America, the Pacific and the Middle East via its network of local partners. Established in 1994, today Howden employs more than 12,000 people worldwide.

Source: Howden Broking

Topics Mergers & Acquisitions Agencies France

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