AnaCap Financial Partners has entered an exclusivity arrangement to sell its French insurance broker AssurOne Group to Societe Centrale Prevoir SA.
AnaCap first bought the business from Seventure Partners, Bpifrance and the company founders back in June 2014.
OAG specialises in the online distribution and management of personal insurance products. Under AnaCap’s ownership the company increased its revenue growth by 82 per cent. OAG also launched Utwin, a digital and paperless insurtech product in France.
AnaCap managing director Nassim Cherchali said, “Our strategy for AOG was to grow and digitalise an already successful platform, strengthening its competitive position and improving the overall customer journey.
“The sale of the business stands testament to the investment thesis and we are pleased with the outcome for our investors.”
Earlier this year AnaCap bought €225m of Italian non-performing loans from a from pair of European banks.
AnaCap has raised €3.8bn in funds since it was founded in 2005. Two years ago it closed its third European credit fund at its €595m hard cap.
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