The creation of a dedicated CFO position marks an important milestone for Descartes as it pursues ambitious growth targets and addresses the challenges of scaling internationally. The company’s expanding need for financial expertise across corporate structure, financial analysis, tax, and international platform development made the appointment of an experienced finance leader essential.
Bardy joins from Allianz, where he held senior positions in France and Germany, most recently serving as Head of Planning and Controlling for Global Lines, Asia and Anglo markets. His earlier career included roles at Deloitte, Natixis and PwC, where he worked in accounting, capital management and M&A. At Descartes, he will lead the company’s financial scale-up with a strong focus on value creation for stakeholders.
He will report directly to CEO Tanguy Touffut. The appointment also brings organisational changes within the executive team. Chief Operating Officer Violaine Raybaud, who previously oversaw the Finance department, will now focus exclusively on Operations and Descartes Insurance. Chloé Duval, who has been with Descartes for more than four years and was instrumental in building the finance team as Head of Finance, will become Deputy CFO. She will take charge of financial projects and corporate finance, working closely with Bardy.
Tanguy Touffut welcomed the appointment, saying that Bardy will strengthen Descartes’ investment strategies while further enhancing its financial performance and management capabilities. He added that Bardy will play an instrumental role in achieving the company’s long-term objectives.
Commenting on his new role, Sébastien Bardy said he was excited to join Descartes as it builds a new global commercial insurer with a technology-driven approach to underwriting. He highlighted the founders’ vision of leveraging cutting-edge risk transfer solutions, positioning the company at the forefront of the future of insurance.
Descartes specialises in protecting corporate and public sector clients against climate, cyber and other emerging risks, working in close partnership with brokers. The company combines advanced AI and data analytics with a new generation of data sources to model, assess and manage risks. Its portfolio includes a full range of insurance products, notably parametric solutions that provide cost-effective and transparent coverage with rapid claims payouts.
To date, Descartes has delivered more than $10 billion in capacity to clients through corporate brokers. With a global presence spanning over 60 countries and more than 20 offices across Europe, Asia-Pacific, Latin America and North America, the group operates as both Descartes Insurance, a full-stack insurer in several European countries, and Descartes Underwriting, a global MGA supported by a panel of leading risk carriers.
The company has raised more than $141 million from investors including Highland Europe, BlackFin, Serena, Cathay, Eurazeo and Battery.
