Diot-Siaci records 14% growth in 2023
Paris, April 25, 2024 – The Diot-Siaci Group, the French and European leader in corporate insurance brokerage, announces gross turnover of €905 million at December 31, 2023, against €794 million in 2022.
For its second full financial year, Diot-Siaci has recorded significant growth in gross turnover, up 14% in 2023 from 9% in the previous year, i.e. €905 million against €794 million in 2022. This growth exceeds the objectives of the Horizon 2027 strategic plan announced in 2023 by Group CEO,Cédric Charpentier.
Diot-Siaci is reaping the benefits of its commercial momentum, with organic growth reaching 10%. The 2023 figures also include the “external growth” effect, linked in particular to the acquisition of the ASK Group in Morocco, from the date of the completion of the transaction in April 2023.
Gross turnover outside France (Europe and the rest of the world) rose by 20%, compared to 14% in 2022, and now represents 41% of total Group turnover, with strong growth in the Middle East and Africa, Europe, and Asia. Turnover in France rose by 10% to €536 million.
For each of the Business Units, which have been redefined under the Horizon 2027 plan, turnover is as follows:
- Diot-Siaci Corporate Solutions, which now incorporates P&C business for key accounts, middle market, reinsurance, and regulated professions, reported total gross turnover of €257 million in France, up by more than 8% (on a like-for-like basis) from €238 million in 2022, driven by balanced growth across most of its business lines.
- The Employee Benefits and Consulting unit (PSC) reported gross turnover of almost €174 million in 2023, up from €169 million in the previous year.
- Against a backdrop of global geopolitical turmoil, MSH, the subsidiary dedicated to providing medical and personal risk coverage for internationally mobile individuals, continues to capitalize on its cutting-edge expertise in health and life & disability, ending the 2023 financial year with turnover of €121 million, against €112 million in 2022 (up 13% excluding the currency exchange effect and reflecting the new scope). By way of reminder, MSH delivered turnover of €120 million in 2022 under the previous scope, including traditional brokerage in the Middle East and Singapore.
- Diot-Siaci Credit‘s credit insurance, bonding and financing business continues to grow, with revenue of €60 million, against €42 million in 2022.
- The new “International” Business Unit, which covers marine and cargo, and captive management specialties, as well as business in EMEA (Europe – excluding France – the Middle East and Africa) and the Rest of the World (Singapore, etc.) recorded turnover of €294 million, against €236 million on a like-for-like basis.
DOWNLOAD THE PRESS RELEASE“Our 2023 figures confirm the robustness of our model. They testify to the dynamism of our teams across all of our regions and business lines, and to the relevance of our strategy. We are ahead of schedule in our Horizon 2027 plan and continue to work towards consolidating our position as the European leader in our sector,” concluded Cédric Charpentier, CEO of Diot-Siaci.