Ardonagh Italia, a subsidiary of the Ardonagh Group, has finalised the acquisitions of two Italian insurance coverage brokers, Mediass and Mansutti.
Monetary particulars of those transactions weren’t revealed.
The settlement to amass Mediass was introduced in March 2024, adopted by the announcement to buy Mansutti in April.
Mediass, established in 1996 in Pescara, affords a variety of insurance coverage dealer providers together with normal legal responsibility, motor {and professional} indemnity insurance coverage options.
The corporate operates via a community of 96 native workplaces and greater than 550 franchisees.
In 2023, Mediass reported gross written premiums (GWP) of €95m ($102.22m) and generated revenue of €20m.
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Mansutti, a part of Mansutti S.p.A and based in Milan in 1925 by the Mansutti household, specialises in industrial strains with annual GWPs of €45.5m throughout numerous sectors together with legal responsibility, property, worker advantages, automotive and marine.
These acquisitions will add round 128,000 prospects and almost 60 new colleagues to the Ardonagh Group, reinforcing Ardonagh Italia’s place as a supplier of unbiased insurance coverage broking and threat administration providers in Italy.
Francesco Pirocchi, chairman, and Gianluca Graziani, CEO, will retain their management roles at Mediass.
Mansutti will function with Mediass and Teksure beneath the Ardonagh Italia umbrella.
Ardonagh Italia CEO Carlo Faina mentioned: “It’s my pleasure to formally welcome the Mediass and Mansutti groups into Ardonagh Italia, combining their complementary propositions for retail, SME [small to medium-sized enterprises] , company and public clientele.
“Working from our shared platform alongside Teksure, these companies are poised to develop a compelling providing of breadth and depth, accelerated by the dimensions and observe document of the Ardonagh Group.”
Final week, Ardonagh Advisory, one other division of the Ardonagh Group, acquired BP Insurance coverage Brokers, a Lancashire, UK-based private strains dealer.
