Gras Savoye
- Investment date : December 2009
- Transaction size (Enterprise Value) : >300€m
- Industry : Professionnal Services
- Activity : Insurance brokerage
- Previous Majority Shareholder : Family / Large Corporation
- Status : In portfolio
- Fund : Astorg IV

Gras Savoye is the leading insurance broker in France and the 9th in the world. The group is specialized in three main activities: brokerage of insurance products for its clients (risk analysis, contract drafting and negotiation with insurance companies), contract management on behalf of insurers and clients (contract administration, claims management) and advisory services (insurance audit, optimization). Gras Savoye has a multi-specialist positioning, offering a wide range of insurance products (basic non-life insurance, life insurance, specialized insurance) to a diversified client base (large companies, SMEs, local authorities and private individuals) present in a wide range of industries.
Gras Savoye operates the largest regional network of insurance brokers in France, with 28 local offices across the country. The company had 3,600 employees at the end of September 2009 and 105 offices in 36 countries, including a strong presence in Belgium, Luxembourg, Poland and Africa.

• A national leader and the sole large French broker to benefit from an international network. The company benefits from an extensive product offering and a commercial network unmatched in France
• A resilient market protected by strong barriers to entry based on technical know-how and commercial network
• A solid business model defined by a high level of customer loyalty
• A primary LBO with strong improvement potential in terms of organization, operational efficiency and cash management

«
This share capital reshuffle, in particular with the involvement of Astorg Partners, is a major milestone of our developmenent, in continuity with our group's heritage. »
Patrick Lucas, Chairman and Chief Executive of Gras Savoye
«
This deal, which is beneficial to all parties, gives Willis flexibility and is a great opportunity, with Astorg Partners becoming shareholder, to involve a famous strategic partner in Gras Savoye's development. »
Joe Plumeri, Willis Chairman and Chief Executive Officer