Yellow Hive makes significant move into German market with acquisition of FVB

Poortugaal, 29 October 2024 – Yellow Hive, the parent company of You Sure, Felixx® werk & inkomen, Yinco and several other speciality insurance broker brands, takes a significant first step into the German market. The insurance broker and employee benefits advisory organisation announces the acquisition of the German insurance broker FVB, specialised in brokering personal and commercial lines insurances and financial investment products, from HDI Deutschland AG. With the acquisition of FVB, Yellow Hive enters the German market and achieves full national coverage in both Germany and the Netherlands. The structure and management of FVB will largely remain unchanged and its founder, Thomas Schallenberg, will support Yellow Hive Germany as an advisor after closing. Closing is anticipated year-end and subject to German merger clearance. The transaction is intended to boost the growth and further development of Yellow Hive and FVB in Germany, both organically and through further add-on acquisitions.

In April 2024, Yellow Hive refinanced with a significant new commitment from its existing shareholder IK Partners (“IK”) to support the continued growth of the company, not just in specific Dutch regions and niche markets, but also in other European countries such as Germany and Spain. The acquisition of FVB in Germany marks the first major milestone of this growth strategy.  Following IK’s initial investment in 2020 and under the leadership of CEO Ger Knikman, Yellow Hive transformed from a local insurance broker to a national distribution platform and is now entering Germany. Benefiting from scale, the company will make additional investments in innovation and have a stronger ability to negotiate better conditions for its customers.

National coverage with local presence

FVB is a renowned insurance broker with national coverage in Germany. The company strongly believes in the importance of close personal engagement with clients, which allows the affiliated advisors, who are well-acquainted with the regions, to provide the best tailored advice. Yellow Hive sees added value in the extensive product expertise of FVB and the local knowledge of the involved advisors in various regions.

Ger Knikman, CEO and Founder of Yellow Hive, said: “In FVB, we have found a partner that pursues the same objectives in the German market as we do with our own growth targets in the Netherlands. Now that we have shifted our focus to European expansion beyond the Netherlands, FVB fits perfectly within our growth strategy. By partnering with FVB, we will work with true specialists, enabling us to expand Yellow Hive with even more expertise. We can’t wait to start to work together with this experienced team within our organisation.”

Thomas Schallenberg, Founder of FVB and Advisor to Yellow Hive Germany, commented: “Joining forces with Yellow Hive will allow FVB to continue growing as an independent insurance broker. The company has a strong record of building an integrated platform to drive sustained organic and acquisitive growth. We are excited to join forces with the team at Yellow Hive to accelerate growth together and offer a broader spectrum of products and services to our customers.”

Jens Warkentin, CEO of HDI Deutschland AG, added: “We are delighted to have secured a very good new owner for FVB in Yellow Hive. HDI Germany will of course remain present in the broker market and further strengthen exclusive sales partners in future. We have utilised the consolidation efforts in the German market to place FVB in new hands at very good conditions. I would like to thank FVB, especially Thomas Schallenberg and his team, for their commitment to the HDI brand.”  

European expansion

In the upcoming years, Yellow Hive will focus its growth strategy on Germany and Spain. In these countries, Yellow Hive intends to acquire existing service providers, underwriting companies and insurance brokers.

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De Bruijn PR
Marianne de Bruijn
marianne@debruijnpr.nl or 06-14441398