Insurance broker Verlingue has increased its footprint in Europe by purchasing a majority stake in INSER from ISA.
Established in 1979, INSER is an independent insurance brokerage business.
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With headquarters in Trento, Italy, the company primarily involves in corporate risks and public procurement.
INSER currently has a workforce of around 160 employees, who will join Verlingue, across eight offices in northern and central Italy.
The latest deal aligns with Verlingue’s 2024 strategic plan that aims to build a major family-owned and independent insurance broker in Europe.
It has made Italy the fifth country for Verlingue to conduct its business after France, the UK, Switzerland and Portugal.
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By GlobalDataThe acquisition represents Verlingue’s seventh global deal within a span of seven years and has also allowed ISA to continue as a minority shareholder in INSER.
Financial terms of the deal were not revealed.
Verlingue CEO Anne-Jacques de DINECHIN said: “Our international success is based on strong local management teams in each country.
“With the acquisition of Inser, we are bringing on board a team of committed experts who will play a full part in our goal to become a major player in Europe.”
In January this year, the company announced the acquisition of Cabinet Depeyre and Depeyre Solutions to strengthen its presence in France.
INSER CEO Pierpaolo Ruggeri said: “Verlingue’s European project is exciting and Italy is a strategic country.
“This partnership will enable us to strengthen our development trajectory, both through organic growth and targeted acquisitions, in order to consolidate our positioning and offer a high-quality service to our customers.”
