KKR invests in European insurance broker APRIL
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KKR invests in European insurance broker APRIL

French insurance broker APRIL Group has announced it has signed a long-term strategic partnership with global investment firm KKR.

kkr-logoKKR joins this “strategic” partnership as a majority shareholder. Details of the transaction have not been disclosed and it is yet to be approved.

According to the announcement, by teaming up with KKR, APRIL is preparing to accelerate its development and digitalization in the markets for borrowers, health and personal protection, niche property and casualty, international health insurance and wealth management in France and internationally.

APRIL said in a statement it had achieved its objectives more than a year in advance, pointing to a €‎544 million turnover in 2021, double-digit growth dynamics for 2022 and a nearly 20-point rise in its NPS.

The group founded KKR and its global expertise in insurance and financial services to be the best partner to help them take their growth ambitions to the next level and to become a key player at an international level.

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Eric Maumy, President & CEO of APRIL Group, commented: “The APRIL Group was created 35 years ago by a visionary entrepreneur. After a great collaboration with CVC Capital Partners, April recovered its original strength. Our aim is to continue the history of this great company and to make it a French champion on a global scale. This next chapter will be enabled by the management team, our 2,300 employees, and KKR, for the benefit of our partners and policyholders.”

The group was acquired by CVC Capital Partners in 2019. Since then, APRIL has returned to a high level of performance by refocusing its activities around insurance distribution and carrying out an in-depth transformation of its business model.

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