CVC Capital Partners Sells French Insurance Broker April Group To Global Investment Group KKR
- Written by: iPMI Global
International private medical insurance and global healthcare analyst and report author Ian Youngman takes a look at the sale of French Insurance Broker April.
The logic for April is that it will provide the opportunity to accelerate its development and digitisation.
CVC Capital Partners bought it in 2019, and April has transformed itself from a mix of insurer and broker to a global broker where IPMI and PMI are a key seller not just direct but via other brokers.
It has refocused its activities around insurance distribution and carrying out an in-depth transformation of its business model.
Having made it profitable and ready for the next decade CVS has made a tidy profit by selling it to global investment firm KKR.
By teaming up with KKR, April is preparing to accelerate its development and digitalisation in the markets for borrowers, health and personal protection, niche property and casualty, international health insurance.
It has recently opened new offices in Dubai and Germany with plans for more international openings.
The logic of the Germany opening included that there are an increasing number of Germany expats as individuals and company employees and to sell them IPMI they needed a specialist German office.
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. Healthcare is a key sector but there are no major insurers or brokers in the current portfolio.
