Monday 28 November 2022

US-based investment firm KKR (NYSE: KKR) is acquiring a majority stake in France-based wholesale insurance broker April Group, the principals said.

April was acquired by CVC Capital Partners in 2019.

April Group posted organic growth of +8% in 2021 thanks to substantial work on products in France and worldwide across all its markets - loan insurance, health / personal protection, casualty niche insurance, international medical insurance - and entering a new market, property insurance, through the acquisition of Magnacarta.

The group strengthened its digital and technological capabilities, with the creation of the dedicated APRIL X hub and the acquisition of ELOA and Comparadise.

The group recruited 800 employees in three years, and opened offices in Germany and Dubai.

April is the leading wholesale broker in France, with a network of 15,000 partner brokers.

By 2023, April aspires to become an agile, omnichannel, digital operator, a champion of customer experience and a leader in its markets, while committing to the social responsibility goals in its Oxygen programme.

The April Group operates in 17 countries and recorded turnover of EUR 544m in 2021.