APRIL: The APRIL Group adds a European dimension t
Post# of 301275
Lyon, 19 October 2017
The APRIL Group adds a European dimension to its two-wheeler insurance activity through the acquisition of Pont Grup in Spain
The APRIL Group keeps up the momentum in its expansion outside France and has extended its two-wheeler insurance range to include Spain, through the acquisition of 75% of the capital of Pont Grup, a broker specialised in motorbike insurance for individuals. Armed with over 25 years of experience, Pont Grup is based in Malaga and has over 70 staff members, with a turnover of almost €6.5m.
With over 10 years of experience and a significant market share of 3% in the two-wheeled vehicle insurance segment in France, thanks to its subsidiary APRIL Moto, the APRIL Group has expanded its expertise internationally and established operations in the Spanish two-wheeler insurance market, which is particularly dynamic as in 2016, Spain was in fact the fourth biggest market in Europe in terms of volume (172,176 registrations) and the leading market in terms of growth (up 15.9%) [1] .
The APRIL Group therefore selected Pont Grup, which has a strong reputation and a similar size and economic model as its subsidiary APRIL Moto, a leader in brokerage and on price comparison websites in France. Indeed, both companies share the same customer-focussed approach and use multichannel distribution including direct sales, online subscriptions and partnerships with major companies in the two-wheeler market, manufacturers and parts suppliers alike.
"The integration of Pont Grup strengthens one of the APRIL Group's main areas of expertise in property and casualty insurance in a Spanish market which is growing well. It is fully aligned with our key growth levers and demonstrates our ambition, shared by Pont Grup's management teams, to give our two-wheeler insurance activity a European dimension," commented Emmanuel Morandini, CEO of APRIL.
APRIL has bought a 75% stake in Pont Grup, whereas the senior management team, who maintain their positions within the company, hold the remaining 25%. The transaction was funded with the group's capital.
Upcoming event:
- 24 October 2017 after market close: Q3 2017 sales
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).
[1] Source: the Association of European Motorcycle Manufacturers
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