Howden continues its French expansion with the acquisition of Théorème

Paris, 20 September 2022 – Howden, the international insurance broker, today announces its agreement to acquire Théorème, a family-owned corporate insurance broker headquartered in Paris. This acquisition follows Howden’s recent agreement to acquire C.R.F. Conseils (“CRF”) and underlines Howden’s continued investment in expertise for the benefit of its French clients.

Founded in 1991 and led by Xavier de Font-Réaulx, the business has grown to become a significant broker in France, with a market-leading Motor Fleet platform and specialisms within Property & Casualty and Employee Benefits.

Théorème is uniquely placed in the market to service large, medium and small corporate clients across the full insurance value chain, with a multi-specialist approach and deep specialism and expertise.  The firm has grown significantly in recent years and currently serves 1,500 clients across its offices in Paris, Annecy and Nantes.

Nicolas Aubert, CEO, Howden France commented: “Théorème offers knowledge and technical skills that will allow us to both expand and enhance our client proposition in France. The firm’s multi-specialist positioning is highly complementary to Howden’s capabilities and Théorème’s Motor Fleet platform is unmatched. Building on our acquisition of CRF, our purchase of Théorème reasserts our ambition to build a platform based on advanced experience and expertise, which will welcome the best talent in the French insurance market.”

Xavier de Font-Réaulx, President, Théorème said: “We are proud of the entrepreneurial and autonomous culture that we have developed and nurtured at Théorème over the past 30 years. When it came to thinking about the future of our family business, after many steps, we enthusiastically chose to join Howden. Joining the Howden “family” is ideal for us. We have common principles centred on expertise, collective culture, a vision for employees and a customer-centric approach.”

Etienne de Font-Réaulx, Motor Fleet Director, Théorème said: “By choosing Howden, our ambition is to continue as a leader in the Motor Fleet insurance market with new digital tools and a dedicated and highly specialised team that will provide our customers with a service that adds high value every day.”

Martin de Font-Réaulx, P&C Director, Théorème added: “Howden will strengthen our existing specialities and allow us to open up new ones by bringing in new technical skills. This is great news for our customers and also for our teams who will have opportunities in this growing market.”

Luigi Sturani, CEO, Howden Europe said: “Our ambition to position ourselves as one of the leading brokers in Europe is no secret. Partnering with strong strategic and culturally aligned businesses, attracting the industry’s top talent - Théorème’s Xavier de Font-Réaulx and his team and unlocking organic growth is enabling Howden to rapidly grow across the Continent and establish itself as the European-focused alternative in the broking market. The acquisition of Théorème brings us a step closer in fulfilling our ambition to position ourselves among the leading brokers in France and we’re looking forward to welcoming Théorème’s employees and clients to Howden.”

Upon completion, Xavier de Font-Réaulx will serve as General Manager of Théorème, reporting to Nicolas Aubert, CEO France.