Burrus Group, an insurance agency, agreed to merge with Siaci Saint Honore, an independent French insurance broker, for $2.96bn. Ontario Teachers’ Pension Plan Board will lead the investor consortium and acquire a 30% stake in the combined group, becoming the largest institutional shareholder. Bpifrance and Cathay Capital will acquire a 10% and 5% stake respectively. “We share common values and a wealth of opportunities. This merger will generate new possibilities and the implementation of ambitious growth plans built on large business synergies,” Pierre Donnersberg, Siaci Saint Honore CEO.