Ardonagh to acquire Italian commercial lines business Mansutti S.r.l
The Ardonagh Group (“Ardonagh”) today announces it has agreed to acquire Mansutti S.r.l, the commercial lines business of Italian insurance broker, Mansutti S.p.A.
The business’ legacy spans nearly a century with the foundation of Mansutti SpA in Milan in 1925. Generations of the Mansutti family have since crafted a reputation servicing personal customers through the country’s biggest brands and enterprises with the brokerage being led most recently by Tomaso 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.
The Mansutti S.r.l team of 30 will continue to service their client base and contribute to the accelerated growth of the Group’s European footprint, sitting alongside the recently announced acquisition Mediass, led by Gianluca Graziani, and reinsurance and MGA business, Teksure.
Conor Brennan, Executive Chairman of Ardonagh Global Partners, commented: "This strategic acquisition emulates our meticulous approach of identifying and welcoming premium, independent and highly coveted insurance brokers across Europe, building on a strategy we have 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.
Carlo Faina, CEO of Ardonagh Italia added: "Ardonagh Italia will tap into a wealth of insurance broking excellence via the Mansutti team, and we are looking forward to working with this forward-thinking business to unlock further growth in their next chapter with us. This partnership presents immense opportunities to harness Ardonagh’s scale and capability to create a robust ecosystem of diverse geographical regions and products, reinforcing our commitment to meeting the diverse needs of businesses in Italy."
Tomaso Mansutti said: "I am delighted to have found a partner of Ardonagh’s calibre and stature to entrust the legacy of Mansutti. Their reputation and global presence will undoubtedly propel our long-standing business to even greater heights.
Completion of this transaction and that of the previously announced Mediass acquisition are 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.
MANSUTTI
Mansutti, which has been operating in the insurance field since 1925, is among the primary independent Italian insurance brokers. Mansutti serves private clients, companies, and multinationals in over 50 countries, providing specific specialist services in Employee Benefits, Property & Casualty. The family has been operating in the insurance field since 1925. In 2004, the Mansutti company established the Mansutti Foundation, one of the main cultural institutions and one of the world’s leading centers on the history of insurance, with over 6,000 volumes on the history of insurance, manuscripts, and printed books from the 1500s to today.
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