A partnership across the CVC network helped transform APRIL Group into one of Europe’s leading insurance brokers
APRIL is the leading wholesale insurance broker, offering support and protection to its customers through specialist insurance solutions. A French champion and one of the leading insurance brokers in Europe it prides itself on providing partners and policyholders with an easy and outstanding experience that combines the best of people and technology.
Regenerating a French brand ahead of international expansion
Headquartered in Lyon, APRIL Group (“APRIL”) has an unparalleled network of primary brokers with a large base of customers needing access to health and personal protection, niche property and casualty, international health insurance and wealth management in France and internationally.
By 2019, APRIL had built a dominant position in the French insurance market but recognised that to achieve future growth it needed to strengthen its foundations and reinvigorate its offer. CVC’s strong local presence, successful track record in France and insurance sector experience made it the ideal partner and within three years of CVC’s ownership, the business was successfully transformed from an under-managed insurance conglomerate into a focused and growing leader in insurance distribution.
- APRIL’s activities were refocused around insurance distribution by exiting non-core businesses and completing selective M&A investments to strengthen the product offering and distribution capacity, locally and internationally.
- Significant investment in digital and technological capabilities to accelerate multi-channel growth, reinforce its market leadership as an innovator and enhance its direct and B2B distribution offering.
- Admin processes were simplified and automated and the customer experience was improved significantly.
The APRIL Group was created 35 years ago by a visionary entrepreneur. After a great collaboration with CVC, we recovered our original strength. Our aim is to continue the history of this great company and to now make it a French champion on a global scale.
Eric Maumy President & CEO, APRIL Group
Increased focus on ESG
With a long-term commitment to ESG already place, during CVC’s ownership, APRIL continued to enhance its efforts in four areas: health, careers, education and the environment. Ecovadis ,the international ratings platform for ESG, assessed APRIL’s approach and performance and awarded them a silver medal, meaning they are ranked in the top 25% of companies assessed by EcoVadis.
Cross-firm team delivers fast-track success
By 2022, through the close cooperation of CVC France with CVC’s Financial Services and specialist Operations and Capital Markets teams, APRIL achieved double-digit growth, meeting its objectives more than a year in advance.
Following this rapid regeneration, APRIL then entered a long-term strategic partnership with global investment firm KKR to continue its development in key local and international markets.