Charterhouse-backed Siaci Saint Honore buys Cambiaso Risso

Cambiaso Risso CEO Mauro Iguera and chair Marco Risso will remain in their current roles and take on key responsibilities in the international development of the marine insurance division at Siaci Saint Honore.

SSH will operate in five new countries after the acquisition – Italy, Norway, the UK, Turkey and Greece – while further strengthening its position in several ports, including Singapore, New York and Dubai.

Charterhouse bought a stake in SSH from Ardian and Edmond de Rothschild in June 2018, while the management team, led by Pierre Donnersberg, acquired a majority holding in the group. According to press reports, the deal valued the company at around €1bn.

Established in 1932, SSH is an insurance brokerage and consultancy, supporting large- and mid-cap companies in the management of their property and personal insurance risks in France and abroad. The company is based in Paris, employs 3,000 staff worldwide and generated a turnover of €437.5m in 2018.

Company
Founded in 1946 and headquartered in Genoa, Cambiaso Risso is an insurance broker for the maritime and shipping industries. It has 16 offices worldwide, employs 240 staff and generates revenues of around €30m.

People
Cambiaso Risso – Mauro Iguera (CEO); Marco Risso (chair).
Siaci Saint Honore – Pierre Donnersberg (chair).

Advisers
Acquirer – Gianni Origoni Grippo Cappelli & Partners (legal); PwC (financial due diligence).
Vendor – UBS (corporate finance); Studio De Andre (legal).

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