AnaCap exits AssurOne

AnaCap wholly acquired AssurOne in June 2014 from Seventure Partners and BPI France, while the company’s management reinvested in the business alongside the GP.

Under AnaCap’s ownership, AssurOne recorded 82% growth in revenues and 126% growth in earnings, according to a statement. In addition, the company introduced real-time pricing analytics and data insight to drive commercial performance. It also launched Utwin, a fully digital and paperless insurtech product for the French mortgage insurance market.

Previous funding
Seventure first backed AssurOne in 2004 and subsequently injected €4.2m in the business in 2006. In 2009, Seventure returned €11.5m from its previous investments through a refinancing of AssurOne, which was completed alongside new investors CDC Enterprises and Philippe Louis-Dreyfus. BPI France invested in the company in 2008.

Company
Established in 2004 and headquartered in Paris, AssurOne is an online insurance broker that specialises in online distribution and management of personal insurance products. Initially focused on the direct sale of insurance products, the company developed a wholesale activity through a network of brokers and a white-label activity with corporate partners. AssurOne has established relationships with several major insurance specialists, including Axa, AIG, Generali, Europ Assistance, Metlife, La Mondiale and Allianz.

People
AnaCap Financial Partners - Nassim Cherchali (managing director).

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• Topics
• Exits
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• AnaCap Financial Partners
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• Trade sale