Agreement of fusion Is to us Saint Honoré - Cambiaso Risso, with the Italian company that will maintain to brand and operating autonomy



The French Is to us Saint Honoré, between greater the broker of assurances and of advising services, an agreement of partnership strategic has signed with the insurance group genoese Cambiaso Risso, specialized in the segment of the shipping in which work also as marine agency, understanding that it prints transalpine emphasizes to be the second acquisition from the beginning of this year of the French company following of eight days that of compatriot CLC Assurances.

Relatively to the agreement, Be to us Saint Honoré and the Italian group has clarified that they come "confirmed the maintenance of the brand Cambiaso Risso and the operating autonomy of the society" and that, "for the development of the Italian market, Is to us Saint Honoré will make use of the domestic Network of the Group Cambiaso Risso with offices to Genoa, Naples and Trieste while in the international field the two groups will operate in synergy". Moreover, "current president Marco Risso and chief the executive officer Mauro Iguera will maintain the respective charges and will have the greater responsibilities in the total development of the marine business in the within of the group Is to us Saint Honoré".

Be to us Saint Honoré and Cambiaso Risso has explained that "integration, with 285 assigned in the insurance brokerage, manages more than 550 million euros than prizes and will benefit moreover of the presence of Cambiaso Risso in the market of the Lloyd's through joint venture with CR MAG, constituted with MAG JLT, of which Cambiaso Risso controls the totality of the actions. The turnover total piles to about 55 million euros of prizes".

Specifying that "the operation with Is to us Saint Honoré it is of along breath", the underwriters of the agreement have evidenced that "the strong patrimonial consistency of the French company will allow with the already solid Cambiaso Risso to first of all strengthen own structure with new assumptions in the center of Genoa and then with the expansion on markets in strong increase. Beginning from 2008, year in which the associates they have riacquisito the branch of afferent company to the field bodies - is emphasized - Cambiaso Risso is returned to its historical vocation undertaking internationalization politics that have realized with the opening of numerous offices foreign countries between which Singapore, London, Bergen (Norway) that they have afforded the acquisition of new customers and the placing of the risks on new markets".

The parts also have found as l '' agreement constitutes "an innovation in the world of the insurance brokerage, where in the past decade are realized various acquisitions but nobody partnership strategic in a position to assuring to the managers the maintenance of the necessary autonomy and independence", and that "the new Cambiaso Risso will be able to count on important destined investments to the overcoming of the current geographic limits in collaboration with the international structure of the French group".

The two parts have specified that "the operation will be subject to approval by the competent authority in some of the 42 Countries in which the two societies are active and will be operating in the course of according to trimester, creating to a group between the first three to the world in the insurance marine and second brokerage in Europe".

Be to us Saint Honoré and Cambiaso Risso has rimarcato that "the complementariness of the two groups is much fort in the field marine, thanks to the absolute leadership of Cambiaso Risso in the segments bodies and cars and of the strong presence of Is to us Saint HonoréE in the segment goods after the Marine acquisition of happened CAP in 2016. The Marine specialization of CAP in the P&I will strengthen the offer of services".

"The preparation of our Italian staff - the president of Cambiaso Risso has remembered, Marco Risso - is recognized to the maximum levels and the market remains extremely competitive. During the last few years strong investments on the structure are realized, by computer science to the management control and are applied with success rules of governance learned in the course of the partnership with a multinational group that will allow an easy integration with Is to us Saint Honoré, that it counts on a structure of first floor to international level".

"The expansion of our geographic cover to Italy and the other Countries where Cambiaso Risso is present with the contribution of the extraordinary experience of Marco Risso, Mauro Iguera and their team - the president of the French company has commented, Pierre Donnersberg - has a beyond price value. This is our more meaningful international strategic operation never realized and the real beginning of a new era of open independence 8th November when we have changed our share structure with the acquisition of the control of the group by management".