Announcements

Ardonagh completes acquisitions of Italian brokers Mediass S.p.A. and Mansutti S.r.l

10 June, 2024 |Global Partners | M&A

Ardonagh Italia, a subsidiary of The Ardonagh Group, today confirms completion of the previously announced acquisitions of Mediass S.p.A. and Mansutti S.r.l.

Based in Pescara and founded in 1996, Mediass provides insurance broker services offering General Liability, Motor, and PI insurance solutions via 96 local offices and distribution network of over 550 franchisees. It has an annual Gross Written Premium of €95 million and generated income of €20 million in 2023.

Mansutti S.r.l is the commercial lines broker of Mansutti S.p.A., which was established by the Mansutti family in Milan in 1925. The firm has an annual Gross Written Premium of €45.5 million across Liability, Property, Employee Benefits, Automotive, and Marine.

Together the brokers will add 128,000 customers and nearly 60 new colleagues to The Ardonagh Group, cementing Ardonagh Italia as a preeminent provider of independent insurance broking and risk management in Italy.

Chairman Francesco Pirocchi and CEO Gianluca Graziani will continue to lead Mediass. Mansutti S.r.l. will operate as part of Ardonagh Italia alongside Mediass and Teksure S.r.l.

Commenting on the announcement, Carlo Faina, CEO of Ardonagh Italia, said: “It is my pleasure to formally welcome the Mediass and Mansutti S.r.l teams into Ardonagh Italia, combining their complementary propositions for retail, SME, corporate and public clientele. Operating from our shared platform alongside Teksure, these businesses are poised to grow a compelling offering of breadth and depth, accelerated by the scale and track record of The Ardonagh Group.”

Conor Brennan, Executive Chairman Ardonagh Global Partners, added: “The completion of Mediass and Mansutti S.r.l deals heralds the arrival of Ardonagh Italia into the top ten brokers of size in Italy. This newly enhanced Italian outfit is reflective of Ardonagh’s commitment to building in-country platforms across Europe that are powered by best-in-class talent with deeply entrenched relationships with clients and partners.”

Francesco Pirocchi, Chairman of Mediass, commented “Today we are officially aligning with a partner that shares our values and ambitions as we chart our latest growth path. Ardonagh stands out as a company fully committed to empowering its partners, and its cultural alignment with our own makes this collaboration a strategic fit.”

Gianluca Graziani, CEO of Mediass, said “We are delighted to be formally joining forces with the substantial resources and scale of Ardonagh, which we will leverage to foster strong international relationships. We look forward to fostering strong global relationships and reinforcing our commitment to colleagues and customers. Working closely with Carlo and his team, I’m excited to contribute to Ardonagh Italia’s strategic vision and foster our successful partnership.”

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

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.

www.mansutti.it 

Share article

Latest announcements

Ardonagh completes acquisitions of Italian brokers Mediass S.p.A. and Mansutti S.r.l

Ardonagh Italia, a subsidiary of The Ardonagh Group, today confirms completion of the previously announced acquisitions of Mediass S.p.A. and Mansutti S.r.l.

10 June, 2024

Fylde Coast broker BP Insurance Brokers joins Ardonagh Advisory

Ardonagh Advisory has acquired the Lancashire regional and specialist personal lines broker, BP Insurance Brokers (“BPIB”).

05 June, 2024