AssurCopro acquires Jacques Boulard

The group strengthens its portfolio with the acquisition of brokerage form Jacques Boulard

M & A buy side 2017, March

Insurance & Fintech

“AssurCopro was an ideal candidate, enabling us to fully embrace the digital era and, thanks to its sales team, pursue and accelerate the firm’s development while conserving its DNA and culture of excellence. This is why we chose AssurCopro.”

Vincent Boulard and Benoît Florin - Directors of Jacques Boulard

Created in 1933 and purchased by Jacques Boulard in 1962, the company is one of the French market’s historic brokerage firms. It enjoys an excellent reputation, particularly for the quality of its personnel, and insures over 5,000 buildings in Ile-de-France. Born to a family of asset managers, Jacques Boulard gradually steered the company towards a highly specialized focus on insurance for buildings managed by joint ownership and property management associations. Led by Vincent Boulard and Benoît Florin for over 30 years, the company managed a business volume of approximately €26 million in 2016.

This acquisition dovetails with the strategy adopted by AssurCopro’s founders, Vincent Mancel and Olivier Scemama, and managers, as well as the company’s shareholder Eurazeo PME, the objective being to boost the leadership of AssurCopro as a French market specialist and provide it with the necessary resources to continue innovating in its market, particularly in the digital transformation of client services.
Vincent Boulard and Benoît Florin will accompany the transition in the coming months to ensure that the teams are fully integrated and that their unique know-how is preserved. The

AssurCopro and Jacques Boulard teams are a perfect match, which sets the stage for potential commercial synergies.
In addition, the firm Jacques Boulard will benefit from an expanded and complementary product range in the short term, namely in work-injury insurance, legal protection, unpaid rent guarantee, landlord home insurance and the pioneering solution AssurTréso, which insures against unpaid charges.

The AssurCopro Group posted a business volume of €130 million with this acquisition, up by over 40% since Eurazeo PME acquired its interest in September 2016.
Henri Combremont, Chairman of AssurCopro stated: “By merging with the firm Jacques Boulard, we will be able to fast-tack the expanded offering to clients and enhance our service quality as we welcome the expert teams of Jacques Boulard – it’s an amazing opportunity. Alongside Eurazeo PME, we will pursue the drive to lead our sector.”