Axelliance sold to Ciprés

The multi-specialist insurance provider is sold to Axelliance with the objective of becoming the Insurance Reference for French Entrepreneurs

Axelliance Groupe joins Ciprés Assurances to form the 2nd largest wholesale broker on the French market.

Less than a year after Apax Partners entering its capital, the acquisition of Axelliance Group by Ciprés Assurances is fully in line with its development strategy, with the ambition to become the Insurance Reference fpr French Entrepreneurs.

With a turnover of 130 million euros in 2017 and more than 500 million euros in premiums, the new Ciprés Assurances / Axelliance Group alliance accelerates its development by optimizing its offer for professionals and its presence across France. It also strengthens Axelliance's positioning with its key account customers through a range of services and dedicated offers.

Daniel Derderian, Founder of Axelliance Group, commented: "Joining Ciprés Assurances, with the support of Axelliance's shareholders, and with which we share a number of values and objectives, including a culture of excellence, and the importance of customer service, is part of the strategy to accelerate our performance. The combined know-how of the two entities makes it possible to imagine the rapid growth of the new entity, positioning it as a key partner."

Laurent Ouazana and Sylvie Langlois, President and General Managers of Ciprés Assurances, added: "We are delighted and excited to join forces and to create new products, services and processes together that will appeal to brokers and insurer partners. Our short term goal is to become the insurance platform of French VSEs and SMEs. In full agreement with our shareholder Apax Partners, we will propose to Daniel Derderian to join the Supervisory Board of the new group Ciprés Assurances / Axelliance Group."