- Filhet-Allard Maritime is a France-based leading insurance broker for the commodities trading, shipping and industry markets.
- It has acquired a controlling stake in Latitude Brokers, a specialist Marine broker based in Asia with headquarters in Hong Kong.
- The acquisition has received regulatory approval from authorities in both Hong Kong and Singapore.
A Famarit news source says that Filhet-Allard Maritime acquires controlling stake in Latitude Brokers.
Latest step of Filhet-Allard Maritime
This deal is the latest step in Filhet-Allard Maritime’s continued global expansion plan which already include operations in Switzerland, Ivory Coast and Turkey.
The acquisition will provide Filhet-Allard Maritime with a new platform for expansion in the Asian market, where they are already a well-known broker in the commodities sector.
In addition, the new set-up is designed to create a direct link between Europe, Africa and Asia which will provide a unique service offering to existing and future clients.
Henry Allard and Christian Barnabe, President and Managing Director of Filhet-Allard Maritime respectively, have stated “the acquisition of Latitude Brokers will be a game changer for our Group. It will consolidate our position as a global maritime insurance broker and anchor our operations in Asia. The complementary nature of our portfolios in the shipping and in the commodities sectors will provide a solid base to propel our business in the region”.
Latitude Founding Partners, Vanessa Toucas, Andrew Brooker, Tom Fulford-Smith and Charles D’Alton, made the following joint statement “We are very grateful for the hard work and support of our staff and clients, many of whom have been with us since the very early years. We have known the Filhet-Allard Maritime team for nearly 20 years. We both see the Asian market as a critical component of a global operation and are excited to grow together.”
Challenging global and market environment
Notwithstanding the challenging global and market environment, Latitude has continued to enjoy strong year-on-year growth.
Latitude will maintain their brand identity as they begin this new stage in their development.
The acquisition will accelerate the changes they want to implement, including immediate plans for growth in Singapore and Hong-Kong.
Henry Allard, Christian Barnabe and Leon Lederman will join the Latitude Board of Directors.
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Source: Famarit
