Ontario Teachers’ announces sale of stake in Diot-Siaci to Ardian
Transaction reflects strength of Ontario Teachers’ financial and insurance services expertise, in helping build Diot-Siaci into a leading European corporate insurance broker.
Paris – Ontario Teachers’ Pension Plan Board (“Ontario Teachers’”) today announced it has signed a definitive agreement to sell its stake in Diot-Siaci, a leading European corporate insurance brokerage group, to Ardian.
Ontario Teachers’ invested in Diot-Siaci in 2021, supporting the successful merger between Diot and Siaci Saint Honoré. Since then, the business has grown significantly in scale and geographic reach. Ontario Teachers’ also supported the Group across several strategic value creation areas, including:
- Accelerating revenues from ~€700M to €1B+, helping establish a leader in European corporate insurance with strong positions in the Middle East and Africa;
- Supporting the merger and integration of the two entities;
- Advancing an M&A strategy focused on international expansion and niche verticals such as HR consulting;
- Moving up the value chain through vertical integration, notably via the transformative Nasco acquisition in reinsurance, as well as MGAs and the London market.
Inaki Echave, Head of EMEA Private Capital at Ontario Teachers’, said, "We’re proud to have supported Diot-Siaci following the merger between Siaci Saint Honoré and Diot four years ago. Since our entry in 2021, its revenues have multiplied by 1.5 times to reach EUR1 billion, and today we can say Diot-Siaci is a leader in the European corporate insurance broker market, which we have helped expand into the Middle East and Africa. This is another great example of our partnership with management teams in our financial and insurance services portfolio of investments, where we have a demonstrated track record of success over the last three decades."
Ontario Teachers’ investment in Diot-Siaci is part of its global C$13 billion Financial Services & Insurance portfolio, a core sector of focus for the Private Capital division, which has completed 15 investments in the sector globally, with 13 of these investments led or co-led by Ontario Teachers’.
The transaction is expected to close later this year, subject to regulatory approvals and customary closing conditions.
About Ontario Teachers’
Ontario Teachers' Pension Plan Board (Ontario Teachers') is a global investor with net assets of $266.3 billion as at December 31, 2024. Ontario Teachers' is a fully funded defined benefit pension plan, and it invests in a broad array of asset classes to deliver retirement security for 343,000 working members and pensioners. For more information, visit otpp.com and follow us on LinkedIn.
About Diot-Siaci
Diot-Siaci is a leading insurance and reinsurance consulting and brokerage group in France and Europe, with strong positions in Asia, the Middle East and Africa. It designs and develops innovative, tailor-made solutions for its clients, including large corporations, mid-sized companies, SMEs, and professionals, in both personal insurance and property and liability insurance, in line with its CSR commitments. It meets their needs across the entire value chain in property and liability insurance, social protection (health, personal protection, retirement), HR consulting and international mobility, credit insurance, surety and financing, captive management and reinsurance. With more than 7,000 employees and revenue of over €1 billion in 2024, the group operates worldwide through its own offices and its Diot-Siaci Global Partners network.
Media Contact:
Ontario Teachers’
Henrietta Dehn / Alisha Prakash
media@otpp.com
Victoire de Brebisson
victoire.debrebisson@kekstcnc.com