Investor Consortium Led by Existing Shareholder Bruno Chamoin Family, Hermes Heirs New Family Office Krefeld Invest & Canada Insurer Fairfax Financial Holdings in Talks to Buy France Insurer Albingia, Current Shareholder Asset Manager Eurazeo Expects to Sell Entire 70% Shareholding for $303 Million, Krefeld Invest Founded in 2022 is Entity for 8 Hermes Family Offices & Investment Firms Named after Germany Village of Hermes Founder Thierry Hermes Birthplace
12th December 2024 | Hong Kong
An investor consortium led by existing shareholder Bruno Chamoin family, Hermes heirs new family office Krefeld Invest & Canada insurer Fairfax Financial Holdings are in exclusive talks to buy France insurer Albingia, with current shareholder asset manager Eurazeo is expected to sell their entire 70% shareholding for $303 million (EUR 289 million). Krefeld Invest was founded in 2022 and is entity for 8 Hermes family offices & investment firm. Krefeld is named after Germany village of Hermes founder Thierry Hermes birthplace. Announcement (11/12/24): “Eurazeo, through its Mid-large buyout strategy, has entered into exclusive discussions with a consortium led by La financière de Blacailloux (“Fiblac”), the financial holding of the Chamoin family, regarding the sale of Albingia, a leading company in the French commercial insurance lines market, headed by Valentine de Lasteyrie. Fiblac leads a consortium composed of the management team, as well as Krefeld, the family office of the Hermès families, and Fairfax Financial Holdings, a Canadian company specialising in insurance and re-insurance. Under the terms of this agreement, Eurazeo would sell its entire financial stake of 70% in Albingia, for a return – including dividends – of 2.2x cash-on-cash. The transaction is expected to bring approximately €289m of sale revenues to Eurazeo’s balance sheet. With this sale, Eurazeo is reaffirming its strategy of supporting sector champions whilst generating significant value for its clients and shareholders. The transaction remains subject to the approval of the relevant authorities and to various requirements, such as documentary conditions, and is expected to be finalised in spring 2025. As of today, Albingia is the only independent player in the French commercial insurance lines market. In 2023, the company collected more than €334m in insurance premiums, with a combined net ratio of 84% and a balance sheet of 1.15 billion euros. Operating across the whole French territory, Albingia distributes its products exclusively via a network of partner brokers. Albingia is among the highest quality signatories in the French insurance market as demonstrated by its solvency ratio, which is almost three times higher than the regulatory requirements set by the European Solvency II Directive.”
“ Investor Consortium Led by Existing Shareholder Bruno Chamoin Family, Hermes Heirs New Family Office Krefeld Invest & Canada Insurer Fairfax Financial Holdings in Talks to Buy France Insurer Albingia, Current Shareholder Asset Manager Eurazeo Expects to Sell Entire 70% Shareholding for $303 Million, Krefeld Invest Founded in 2022 is Entity for 8 Hermes Family Offices & Investment Firms Named after Germany Village of Hermes Founder Thierry Hermes Birthplace “
Investor Consortium Led by Existing Shareholder Bruno Chamoin Family, Hermes Heirs New Family Office Krefeld Invest & Canada Insurer Fairfax Financial Holdings in Talks to Buy France Insurer Albingia, Current Shareholder Asset Manager Eurazeo Expects to Sell Entire 70% Shareholding for $303 Million, Krefeld Invest Founded in 2022 is Entity for 8 Hermes Family Offices & Investment Firms Named after Germany Village of Hermes Founder Thierry Hermes Birthplace
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