DUPI MGA Invest BV intend to acquire 50% of C.A.M.T.T. Paris
On 7 October 2020 DUPI MGA Invest BV and C.A.M.T.T. SAS have reached an agreement whereby DUPI intend to acquire 50% of C.A.M.T.T. SAS by way of a share purchase.
Closing of the agreement is intended to ultimately take place on or before 15 December 2020, subject that all necessary regulatory requirements, including competition authorities and financial regulators (if any), have been met.
The C.A.M.T.T. team will remain the same and Jean-Christophe MÉLEARD will continue as Managing Director together with Michiel VERVLIET as Executive Director.
Gilbert MÉLEARD will continue as President of the company and as active underwriter.
The joint venture allow DUPI to offer their products and services on a wider scale to the French market.
DUPI write EUR 140m premium (budget 2021) of which half is Marine Cargo, Marine Hull and Charterers’ Liability/P&I and 25% CAR/Engineering with the balance being Property and Casualty.
In Marine DUPI are number 2 in the Dutch insurance market, in CAR/Engineering number 3.
Established in 1988 as a niche P&I specialist, DUPI Group now operate with 100 staff from 4 offices in 3 countries. Through autonomous growth complemented by selective acquisition of businesses, teams and portfolio’s DUPI Underwriting Agencies have the ambition to be THE Insurer of Choice for Entrepreneurs.
As Underwriting Agent, DUPI represent Belgium-based Baloise Insurance, various Lloyd’s Syndicates, Accredited Insurance (Europe) Limited, The Shipowners’ Club and Argenta Underwriting.
Based in Paris, Jean-Christophe and his team will continue to focus on the French and European markets, offering Marine insurance products and risk solutions.
In addition, working closely together with the DUPI underwriting, claims handling and business development teams in The Netherlands, C.A.M.T.T. will introduce a wider range of insurance products and services, such as Charterers’ Liability, Specialist P&I, Construction All Risks and Engineering.
For DUPI, Paris is an excellent base to extend their Marine and CAR/Engineering capabilities and establishing a significant presence in France, with increased scale and enhanced relevance to our brokers and clients, supporting our ambition to be THE Insurer of Choice for Entrepreneurs.