Ardonagh Group has announced a deal to buy the commercial lines business of Italian insurance broker Mansutti.
Mansutti S.r.l services 8,000 customers across SME lines including liability, property, employee benefits, automotive and marine, encompassing €45.5 million of Gross Written Premium.
Ardonagh said the Mansutti S.r.l team of 30 will continue to service their client base and contribute to the accelerated growth of its European footprint.
The company also recently announced the acquisition of Mediass, led by Gianluca Graziani, and reinsurance and MGA business Teksure.
Dubliner Conor Brennan, Executive Chairman of Ardonagh Global Partners, said today's deal emulates the company's "meticulous" approach of identifying and welcoming premium, independent and highly coveted insurance brokers across Europe.
He added that today's deal builds on a strategy it has successfully executed in Ireland, the Netherlands, Switzerland and Greece.
"With the addition of Mansutti, alongside Mediass and Teksure, we are curating a team of top-tier experts and accelerating the diversification of our proposition, distinguishing Ardonagh Italia as the quality broking platform of choice in this mature and complex market," he said.
Carlo Faina, CEO of Ardonagh Italia, said the partnership presents immense opportunities to harness Ardonagh's scale and capability to create a robust ecosystem of diverse geographical regions and products, reinforcing its commitment to meeting the diverse needs of businesses in Italy.
