Latest news with #Kereis
Yahoo
6 days ago
- Business
- Yahoo
Advent in talks to buy Kereis from Bridgepoint
Private equity firm Advent has initiated exclusive negotiations for the acquisition of Kereis, a multi-channel insurance brokerage in Europe, from private asset investor Bridgepoint. Terms of the potential deal remain undisclosed at this stage. The proposed acquisition is contingent on regulatory clearance and consultations with employees. Set up in 1991 with its headquarters in Paris, Kereis specialises in providing insurance broking services to insurers and banking partners. Kereis holds expertise in housing protection in France, overseeing more than 17 million contracts and supported by a workforce of more than 1,700 across seven European nations. Kereis CEO Philippe Gravier stated: 'This project opens a promising new chapter for Kereis, after 5 years of a successful partnership with Bridgepoint. 'We look forward to working closely with Advent as we continue to invest for the long term in our digital capabilities, expand into new markets, and deliver innovative solutions to our partners and clients across Western Europe.' Following the Bridgepoint partnering in 2020, Kereis has achieved a two-fold increase in revenue and has diversified into areas of corporate risk, health, and property and casualty (P&C) insurance. The company's growth and international reach have been significantly bolstered through mergers and acquisitions over the last three years. Advent director Hadrien de Bardies said: 'Our potential investment in Kereis builds on Advent's long-standing track record in financial services. We will leverage our global network and operational resources to help Kereis scale further, broaden its product offering, and strengthen its leadership position in the European market.' Advent's portfolio in the insurance sector includes investments in CCC Intelligent Solutions and Shift Technology. It also has history in France, stretching over 25 years and encompassing 15 platform deals with recent investments include Parfums de Marly – INITIO in 2023 and Mangopay in 2022. "Advent in talks to buy Kereis from Bridgepoint " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
28-05-2025
- Business
- Bloomberg
Bridgepoint in Talks to Sell French Broker Kereis to Advent
Bridgepoint Group Plc is in talks to sell French broker Kereis to buyout firm Advent, adding to a wave of insurance deals in Europe as the industry consolidates. Advent is in exclusive negotiations for the acquisition, the companies said Wednesday in a statement confirming an earlier report by Bloomberg News. Terms of the potential deal weren't disclosed. The price is more than €2 billion ($2.3 billion) including debt, according to people familiar with the matter.
