Insurance broker and fintech services provider Acrisure has announced plans to acquire It’sSeg, the largest independent benefit management and insurance broking firm in Brazil.
The deal marks Acrisure’s entry into the Brazilian market and represents a substantial expansion of its Latin American operations.
Founded in 2014 by Thomaz Menezes and the private equity firm Actis, It’sSeg has over R$2.5 billion of premiums and counts over 1,000 corporate clients within its portfolio.
“Brazil offers immense opportunities and is a market we’ve been focused on for a long time,” said Greg Williams, Co-Founder, CEO and President of Acrisure.
“With Thomaz and the It’sSeg team we’ve partnered with exceptional people who have built an exemplary business in a short period of time. We’re philosophically and fundamentally aligned as both Acrisure and It’sSeg value strong partnerships, innovative solutions and client centricity.”
Following the transaction, Menezes will remain as CEO of It’sSeg and several senior executives from the company will also remain shareholders.
The transaction with Acrisure involves all companies within the It’sSeg group, which includes consultancy and brokerage arm Barela, as well as the Gebram, Você Clube, B2P and Oktuz businesses.
“Partnering with Acrisure opens a range of possibilities to accelerate our growth in Brazil and Latin America,” said Menezes. “Through Acrisure’s innovative tech-driven approach, we will be able to diversify and expand the range of products we offer our clients.”
The transaction is expected to close within the next three months, subject to regulatory approval.
