Ardonagh Italia, a subsidiary of The Ardonagh Group, has finalised its acquisition of both Mediass S.p.A. and Mansutti S.r.l as previously announced.
Mediass, founded in 1996 and based in Pescara, serves over 120,000 customers. It provides insurance brokerage services to public enterprises, SMEs, large corporations, and retail clients. In 2023, Mediass had an annual Gross Written Premium of €95 million and generated €20 million in income.
Established in 1925, Mansutti S.p.A. is renowned for serving personal customers through major brands and enterprises in Italy. It caters to 8,000 customers in various SME sectors, including Liability, Property, Employee Benefits, Automotive, and Marine insurance, with a Gross Written Premium of €45.5 million.
These acquisitions will bring 128,000 customers and nearly 60 new colleagues to The Ardonagh Group, solidifying Ardonagh Italia’s position as a leading provider of independent insurance broking and risk management in Italy.
Francesco Pirocchi, Chairman of Mediass, and Gianluca Graziani, CEO of Mediass, will continue in their roles. Mansutti S.r.l. will operate alongside Mediass and Teksure S.r.l. under Ardonagh Italia.
Carlo Faina, CEO of Ardonagh Italia, stated, “It is my pleasure to formally welcome the Mediass and Mansutti S.r.l teams into Ardonagh Italia, combining their complementary propositions for retail, SME, corporate and public clientele. Operating from our shared platform alongside Teksure, these businesses are poised to grow a compelling offering of breadth and depth, accelerated by the scale and track record of The Ardonagh Group.”
Conor Brennan, Executive Chairman of Ardonagh Global Partners, remarked, “The completion of Mediass and Mansutti S.r.l deals heralds the arrival of Ardonagh Italia into the top ten brokers of size in Italy. This newly enhanced Italian outfit is reflective of Ardonagh’s commitment to building in-country platforms across Europe that are powered by best-in-class talent with deeply entrenched relationships with clients and partners.”
Pirocchi noted, “Today we are officially aligning with a partner that shares our values and ambitions as we chart our latest growth path. Ardonagh stands out as a company fully committed to empowering its partners, and its cultural alignment with our own makes this collaboration a strategic fit.”
Graziani added, “We are delighted to be formally joining forces with the substantial resources and scale of Ardonagh, which we will leverage to foster strong international relationships. We look forward to fostering strong global relationships and reinforcing our commitment to colleagues and customers. Working closely with Carlo and his team, I’m excited to contribute to Ardonagh Italia’s strategic vision and foster our successful partnership.”
