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.
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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The 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.”