Shearman & Sterling advised Prima Solutions Holding, in which the Carlyle Group is the majority shareholder, on the sale of Prima Solutions, a leading French InsurTech group that provides modern insurance solutions to primarily French clients, to Total Specific Solutions (TSS), an international provider of IT business solutions and consists of independent business units that deliver products and services to their specific vertical market segments.
With this acquisition, TSS enters the French insurance vertical and further strengthens its foothold in France. Prima Solutions is the 16th company in the French-speaking market that joins Groupe TSS, our French TSS division.
Prima Solutions has been an insurance specialist for over 20 years and is a key player in insurance in France and in Europe. The company produces software covering all business processes in non-life insurance, health insurance (for groups and individuals), protection and mortgage insurance. The group serves more than 50 customers and works with a global network of partners.