Lyon, 4 May 2017
The APRIL group diversifies its business in Brazil with the acquisition of Public Broker
The APRIL group continues to expand its expertise abroad and therefore extends its operations in Brazil to group private insurance by acquiring a 60% equity stake in Public Broker, a company that distributes health and personal protection insurance products to businesses. Created in 2008, Public Broker currently employs around 100 people, mainly based in São Paulo and Campinas, and posts annual turnover of around €10m.
Already present in the travel insurance market in Brazil, APRIL recently decided to diversify its operations in the country to include group health and personal protection insurance. In a fast-growing local market, APRIL has acquired a well-established supplier of small and medium-sized firms backed by a network of 5,000 brokers and a direct sales unit. Because Public Broker and APRIL have complimentary areas of expertise, this operation will enable the group to acquire a foothold in the Brazilian health and private protection insurance market by offering tailored group insurance solutions to professionals, SMEs and key accounts. The acquisition is also an opportunity to offer travel insurance via new channels of distribution (brokerage and large companies) as well as a possibility to develop high-end international health insurance solutions for businesses.
APRIL purchased 60% of shares in Public Broker, while the remaining 40% will be kept by its founding partners, who will retain their existing positions at the company. The transaction was financed with group cash.
"We are delighted to welcome the Public Broker teams within the APRIL group. This acquisition will give us access to new market segments in Brazil, where Public Broker's fast-growing business will be further boosted by APRIL's recognised expertise, while our local presence will be strengthened via complimentary products and distribution channels. We therefore confirm our strategy of reinforcing our global footprint through targeted acquisitions that will serve our priority growth levers and our growth dynamics", APRIL CEO Emmanuel Morandini commented.
Upcoming releases:
- Annual General Meeting: 4 May 2017, in Lyon
- 2017 Half-year results: 7 September 2017, after market close
- Q3 2017 sales: 24 October 2017, after market close
This release contains forward-looking statements that are based on assessments or assumptions that were reasonable at the date of the release, and which may change or be altered due to, in particular, random events or uncertainties and risks relating to the economic, financial, regulatory and competitive environment, the risks set out in the 2016 Registration Document, and any risks that are unknown or non-material to date that may subsequently occur. The Company undertakes to publish or disclose any adjustments or updates to this information as part of the periodical and permanent information obligation to which all listed companies are subject.
Contacts:
Analysts and investors Guillaume Cerezo: +33 (0)4 72 36 49 31 / +33 (0)6 20 26 06 24 - guillaume.cerezo@april.com
Press Samantha Druon: +33(0) 7 64 01 74 35 - samantha.druon@insign.fr
About APRIL
Established in 1988, APRIL is an international insurance services group with operations in 31 countries in Europe, North and South America, Asia, Africa and the Middle East, and the leading wholesale broker in France. Listed on Euronext Paris (Compartment B), the group produced a turnover of €861.2 million in 2016. Its 3,800 staff members design, manage and distribute specialised insurance solutions (health and personal protection, property and casualty, mobility and legal protection) as well as assistance services for private individuals, professionals and businesses, while pursuing APRIL's ambition: to make insurance easier and more accessible to everyone. Driven by a strong enterprising ethos, the group aims to offer its customers an insurance experience which is easier, by means of tailored products and services and customised care. Full regulated information is available on our website at www.april.com (Investors section).
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