Bridgepoint, a private investment firm, agreed to acquire a majority stake in Financiere CEP, a European protection insurance broker, from J.C. Flowers, an American private equity investment firm, for $1.5bn. "I’m delighted to welcome Bridgepoint as a new majority shareholder. This will enable us to expand our commercial strategy and accelerate our growth in protection insurance markets both in France and abroad. On behalf of the Executive Committee, I also would like to thank Hubert Guillard, founder of CEP Group, for his outstanding contribution to the development of the company over more than twenty years," Philippe Gravier, CEP Group CEO.