Financial technology and insurance company Acrisure has signed an agreement to acquire Portuguese insurance broker Universalis.
According to Acrisure, the transaction is under review by the Portuguese Regulator (ASF) and will complete subject to their approval.
Greg Williams, Co-Founder, Chairman and CEO Acrisure, commented, “Universalis boasts an impressive track record of growth and has cemented its position as a strong business in Portugal. As part of Acrisure, clients of Universalis will gain the resources of a global Fintech leader. Similarly, Acrisure benefits from working with our talented new Partners in Portugal!”
Since launching back in 1971, Universalis has successfully grown its insurance premiums to over €25m and expanded its network across Portugal.
Acrisure’s partnership with Universalis is it’s first in Portugal, adding another major European market to the firm’s operations on the continent, which also includes Spain, Italy, the Netherlands, Switzerland and the United Kingdom.
Acrisure states that like these other country expansions, the Universalis team will tap into a network of sales professionals, product experts, and innovators to solve a variety of client needs.
Ricardo Moreira, Chairman of Universalis, said, “The partnership with Acrisure will be immensely valuable to us as we integrate their tech-driven approach and capabilities into our operations.
“This will allow us to rapidly accelerate our growth in Portugal and offer clients a robust suite of solutions.”
José Rodrigues, Universalis´s Managing Director, added, “We are very excited to take Universalis to the next level by partnering with Acrisure, one of the world’s six largest brokers – but as a Fintech company, so much more!
“We have had the perfect chemistry with Acrisure since the first conversations, sharing the same ambition, the same vision, and more importantly, their values fit nicely with our own.”
Jason Howard, President of Acrisure International, noted, “I am delighted to welcome Ricardo, José and the entire Universalis team aboard.
“As Acrisure continues to expand our footprint around the world, their dynamic leadership team is well placed for future growth by driving the development of innovative solutions that are customized to the needs of each client.”
