Ardonagh to acquire independent Italian broker Mediass

The Ardonagh Group (“Ardonagh”) today announces it has agreed to acquire Mediass, an independent Italian insurance broker company.  

Based in Pescara, in the Abruzzo region, Mediass serves more than 120,000 customers, providing insurance broker services to public enterprises, SMEs, large corporates, and retail clients.  The broker offers general liability, motor, and PI insurance solutions via 96 local offices across a broad Italian footprint, as well as a distribution network of over 550 franchisees.

Mediass was founded in 1996, generating income of EURO€20 million in 2023. 

The acquisition of Mediass boosts Ardonagh’s growing presence in Europe and heralds its first significant acquisition in Italy following the arrival of the Ardonagh Italia CEO, Carlo Faina, who joined in November 2022 from Berkshire Hathaway where he led the country’s reinsurance operations since 2010.

Mediass will be acquired by Ardonagh Italia, part of Ardonagh Global Partners, and continue to be led by Chairman Francesco Pirocchi and CEO Gianluca Graziani, supported by their existing management team.

In addition to his role in Mediass, Gianluca will join the Ardonagh Italia team with a minority stake to help support the continued expansion of Ardonagh and distribution of its services in country.

Executive Chairman of Ardonagh Global Partners Conor Brennan commented: “The arrival of Mediass is a significant step in our European strategy, with Italy playing a key role given the size of its insurance market and level of complexity.

“Mediass’ impressive network of distributors creates exceptional potential for significant organic growth, and we look forward to developing our partnership to help our new colleagues achieve their ambitions.” 

Carlo Faina added: “I am delighted to welcome Mediass and its extended family of franchise brokers to Ardonagh Italia. We are at their side to support their growth ambitions in the local market, with a clear and precise objective of building our product offering and elevating the customer experience for our clients.

“With the high expertise Gianluca and his team bring and the company's vast geographical reach, Mediass will be a driving force to support us in our mission to become a major player in the Italian insurance market."

Francesco Pirocchi commented: “As we reflected on how to continue our growth path, it became clear we needed to join forces with a group that shared our values and ambitions.  Ardonagh distinguishes itself as a company fully aligned with our culture and is renowned for its commitment to empowering its partners.”

Gianluca Graziani added: “I am excited to begin this new collaboration that will extend our presence in the local market and beyond. Armed with Ardonagh's considerable resources and scale, we join them and their international partners to build global relationships and strengthen our commitment to colleagues and customers.

“I am delighted to work closely with Carlo and his team to contribute to Ardonagh Italia's strategy and to nurture our successful partnership.”

Completion of the transaction is subject to customary regulatory approvals.

ENDS

Notes to Editors

THE ARDONAGH GROUP

The Ardonagh Group is the UK’s largest independent insurance distribution platform and a top 20 broker globally. We are a collection of best-in-class entrepreneurial and specialist brands with a network of more than 200 locations and a combined workforce of more than 10,000 people. Across our portfolio, we offer a highly diversified range of insurance-related products and services across the full insurance value chain in the UK, Ireland, and broader international markets. From complex multinational corporations to individuals purchasing personal insurance policies, our understanding of the communities we serve, together with our scale and breadth, allows us to work with our insurer partners to deliver a broad range of product and risk solutions that meet customer needs.

Ardonagh Global Partners is Ardonagh's platform for growth outside the UK. Beginning in 2020 with the acquisition of Arachas, the Republic of Ireland's largest commercial insurance broker, the platform has continued to grow its European footprint in Portugal, the Netherlands, Greece, Germany, Italy, Spain, France, Cyprus, Malta, alongside international locations of Australia, Brazil, Angola and Mozambique. Ardonagh Global Partners invests in local independent advisory and specialist platforms, partnering with management to drive their growth ambitions.

www.ardonagh.com

MEDIASS

Founded in 1996 on the initiative of a group of entrepreneurs, Mediass is an entirely Italian-owned insurance brokerage company established as a leading player at a national level.

Present for over 27 years in the sector, with 160 sales offices, 95 branches, and 550 intermediaries, Mediass today has an extraordinary corporate organizational system based on the digitalisation of processes and an exceptional strength in the insurance market, thanks to the experience of its employees and partners and of the consolidated commercial relationships that link the company to Italian and international insurance companies.

Mediass specializes in designing and providing insurance brokerage services for public enterprises, private companies, professionals, and families.

Through specific Business Units (Companies, Public Bodies, Credit and Surety Bonds, Welfare, Family, Professionals, and Cyber ​​Security), Mediass creates a direct link between its customers and insurance companies, counting on the high-quality technical support that Mediass has consolidated over the years.

www.mediass.it