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CED acquires French Eurexo and expands European ‘footprint’

CED, the largest independent claims management company in the Netherlands, is acquiring French industry peer Eurexo. The contract was signed on 10 December. With this acquisition, CED significantly expands its European footprint. Not only physically, but also in the breadth of its service, in innovation and strength. The CEO of this Europe-wide CED is François Goffinet, who has been working at CED as Chief Operations Officer since 2018.

CED, along with the SOS International emergency centre, has developed into a strong, full-service damage management company for the entire chain: from emergency assistance, appraisals and inspections, to damage treatment, recourse and recovery in kind. With 1,200 employees and offices in 13 countries, CED works in the fields of Property, Mobility and Vitality for clients from the insurance sector, for real estate companies, fleet managers and governments. It handles 1 million damage claims per year and with this can call itself the market leader in the Netherlands, Belgium and Spain. Thanks to continuous attention to process optimisation and digital innovation, CED is able to make its services better, faster and cheaper. And by flexibly deploying the skills within the organisation, the company has recently been able to take on major social projects, such as dealing with earthquake damage in the north of the Netherlands and source and contact tracing in the fight against COVID19. ”

Broad expertise, unique knowledge  
The French Eurexo - which has been part of the Groupe Prunay since 1997 - also has claims handling and damage management as its core business, particularly in the fields of Property (fire) and Mobility. The company has 730 employees, spread over 44 locations in mainland France and overseas territories. It can count the largest French insurers among its clients. The 200,000 expert files per year vary from household effects, burglary, storm, fire and water damage to legal liability and risk assessment. Unique within this company is the knowledge in the field of climate damage, especially damage as a result of drought. The company is also known for some notable digital innovations, such as a mobile interface for a quick estimate of damage to movable and immovable property; and an ability to remotely diagnose drought damage.

‘Customer satisfaction and innovation as important drivers’ 
In 2018 BlackFin Capital Partners became the new shareholder of CED. BlackFin is the first European capital investment platform for financial services. With its investment in CED, also the growth ambitions and the route to European market leadership in the field of claims management became concrete. The acquisition of Eurexo creates a strong company with 1,900 employees in 13 countries and a combined turnover of 200 million euros. ‘Not only the geographical spread and services of both companies are complementary’, says the new CEO François Goffinet. ‘We are also close to each other in organisational culture, with customer satisfaction and innovation as key drivers.’ By merging the customer portfolios, CED conforms to the consolidation underway in the insurance sector. Moreover, a constructive synergy and fruitful cross-fertilisation can take place in services and in the spread of knowledge and skills. Finally, the combined innovation power of both companies - supported by the IT development capacity that CED has in Tunisia - will significantly accelerate the digital transformation of services. ‘With this combination of forces and with our solid base in the Netherlands, Belgium, Spain and France, CED will be of great value to our current and future customers’, Goffinet concludes.

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