Filhet-Allard Maritime acquires controlling stake in Latitude Brokers
PRESS RELEASE – 8 December 2021
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Filhet-Allard Maritime acquires controlling stake in Latitude Brokers
Bordeaux & Hong Kong, December 8th, 2021
Filhet-Allard Maritime, the France-based leading insurance broker for the commodities trading, shipping and industry markets, 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.
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.”
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 Léon Lederman will join the Latitude Board of Directors.
Notes to editors:
About Filhet-Allard Maritime
Part of the Filhet-Allard family-owned Group, Filhet-Allard Maritime is a leading insurance broker in the world’s major commodities trading, shipping, and industrial markets. Founded in Bordeaux in 1846, the company is now being led by the 6th generation of the Allard family. Its slogan “At the heart of International Trade, Shipping & Industry” reflects its vision as an internationally recognized specialist in the Maritime sector.
Filhet-Allard Maritime’s technical and logistical platform employs more than 100 experts with operations in France, Switzerland, Ivory Coast and Turkey. Their expert teams pride themselves on producing innovative, personalized, and technically effective solutions to protect, defend and serve the interests of customers around the world. For more information visit www.famarit.com
About Latitude Brokers
Latitude Brokers was founded in Hong Kong in 2014 and expanded to Singapore in 2016.
They service clients predominantly in the Asia-Pacific region across the marine, offshore, and global supply chain sectors. Latitude was set up by Tom Fulford-Smith, Vanessa Toucas, Andrew Brooker and Charles D’Alton. For more information visit www.latitudebrokers.com