HISTORY OF THE ASSOR GROUP
Assor was founded in 2000 by Stéphane Verdeil, starting out with launching car insurance through specialist distribution networks and pre-owned car dealers. The company’s history is made up of 3 phases:
PHASE 1: ASSOR FOUNDATION SEPTEMBER 2000 - JUNE 2004
- Partnerships are signed with AXA, GENERALI and GAN insurance companies, and IT tools are developed to share and optimize the costs of the management platform;
- Acquisition of 72.5% of shares of Assurexpan (which was to become Assor Crédit) in partnership with the Euler-Sfac group;
- Acquisition of A.M.M. (Car, Motorcycle and Home Insurance company working with AXA Group);
- Launch of credit, motorcycle and home insurance operations;
- Acquisition of a comprehensive Home Insurance portfolio from Scop Iram;
- Centralisation of IT systems and implementation of IT migrations required by installing ITN V9 software packages.
PHASE 2: INTERNATIONAL DEVELOPMENT 2005 – 2008
Reinforcement of property operations by acquiring Soparias: a company specializing in unpaid rent insurance.
- Launch into the personal insurance sector by acquiring a life insurance portfolio;
- Creation of sub-holding companies Assor Luxembourg and Assor Switzerland to develop brokerage operations in Russia and reinsurance activities respectively;
- Launch of motorcycle insurance in Spain (2005) and Italy (September 2007);
- Relocation of processing platforms to Tunisia and Mauritius and construction of distribution channels in each operational area;
- Merger of Soparias and Assor S.A.;
- Transfer of credit isurance portfolios which were no longer at the heart of Assor’s business;
- Centralization of tools, operations and human resources within Assor S.A.;
- Transfer of life insurance portfolios in order to refocus on private insurance;
- Acquisition of SOGEREC business (Harley Davidson broker) in October 2005;
- This acquisition confirms Assor’s position as a leading broker with a strategic place in the motorcycle sector as it is also the broker for Kawasaki, M.V. Augusta and Cagiva.
PHASE 3: EXTERNAL GROWTH 2009 – 2010
- Buyout of the Gras Savoye DAP (Département Assurances Particuliers - Private Insurance Department), a leading independent broker in France;
- Integration of portfolios onto the Assor management tools, unification of processes and staff training;
-In November 2010, ASSOR expanded its private insurance activity into the Health Insurance sector by buying out Assurema Distribution and Sogepam (?), a broker specializing in private protection insurance. Drawing on its position as leader within this sector, Assor hopes to continue to develop by widening its product offer into the private health insurance market.
Today, Assor is a structured entity and is beginning to benefit fromthe concentration of its resources, and notably from the men and women who together constitute today’s new Assor 2011.
