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May 2, 2019updated 07 May 2019 9:54am

UK insurer Admiral agrees to buy Spanish digital insurance broker Acierto.com

UK-based Admiral Group has agreed to acquire Spanish digital broker Acierto.com in association with insurer Mapfre and private equity firm Oakley Capital.

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Admiral said it has established the joint venture (JV) with Oakley and Mapfre to club its broker Rastreator Comparador Correduría de Seguros with Asesor Seguros Online S.L. and Asesor Consumer Services (together Acierto.com).

Rastreator operates as the digital insurance broker of Admiral in Spain.

Acierto.com offers the full completion of the sales process for clients, which allows them to compare prices from more than 30 insurance providers.

Under the arrangement, Admiral and Mapfre will collectively own majority stake in the JV while Oakley Capital will hold a minority stake together with management.

Admiral Group CEO David Stevens said: “We are pleased to announce this transaction and partnership with Oakley Capital, which will strengthen the Group’s insurance proposition in Spain as a digital insurance broker.

“The holding of both Rastreator and Acierto allows us to take advantage of synergies to enhance the customer experience, which will benefit customers across Spain.”

The deal is subject to approval from the EU Commission and the Spanish insurance regulator.

Free Whitepaper
img

Never Trust, Always Verify: Is Zero Trust the Next Big Thing in Cybersecurity?

Cyberattacks continue to rise every year and no sector seems to be immune. Hackers target sensitive information such as organizational, client, and financial data, as well as intellectual property (IP) and proprietary functions. As digital transformation becomes a top priority for many organizations, traditional perimeter-based security models are no longer sufficient to address the growing cybersecurity concerns. Against the backdrop, enterprises explore zero trust as it takes a micro-level approach to authenticate and approve access at every point within a network. Reasons to read: The cybersecurity landscape is swiftly changing, and businesses need more awareness to meet the evolving change. The report highlights the current state of play and the future potential of the zero trust approach in cybersecurity to protect critical digital infrastructure of enterprises across sectors such as financial services, healthcare, telecom, and transportation, among others. Read our report and gather insights on the following topics:
  • Traditional vs zero trust protection
  • Key advantages and solution providers
  • Major industries and key players
  • Drivers and challenges
  • Top funded startups and Mergers & Acquisitions
  • Implementation challenges
by GlobalData
Enter your details here to receive your free Whitepaper.

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