The Ardonagh Group has announced that 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.