Global insurance and reinsurance broker WTW has signed a definitive agreement to acquire AIMUW, a specialist Managing General Agent in Italy. The deal is expected to be completed in January 2024, although the terms of the transaction are not disclosed.
The deal reflects WTW’s strategy to invest in high-performing businesses and explore the growing connection between risk and capital while underlining its commitment and ambition to enhance its wholesale business in the Italian market.
Gianmarco Tosti, Head of the Mediterranean Region for Corporate Risk and Broking, WTW, said: “This is an exciting time for our business in Italy and we are thrilled that Aldo and the AIMUW team will be joining us. They have solid and long-lasting relationships within the market and valuable experience in high-potential sectors.
“This move represents further confirmation of WTW’s growth strategy in Italy and I am confident that the addition of AIMUW will generate strategic value for the WTW portfolio, and bring unparalleled value to our clients and the Italian market. Our aim is to build on AIMUW’s existing strong foundation and create a best-in-class MGA in Italy. We will continue developing innovative risk structures and specialist solutions for our clients, and AIMUW is a key part of that strategy.”
AIMUW has a strong reputation in the Italian market and deep expertise in several key verticals, including agriculture, the public sector, and professional services, notes WTW. The Rome-domiciled company has offices in Milan and Lecce, with a team of 40.
The company was founded in 2018 by Italian entrepreneur Aldo Iaquinta, who has 25 years of extensive industry experience and a strong General Agency track record.
Following the planned completion of the agreement, AIMUW will retain its current brand, which is widely recognized in the Italian market, and it will also maintain operational independence.
Aldo Iaquinta, Chief Executive Officer and Founder of AIMUW, said: “The entire AIMUW team and I are thrilled to join forces with WTW, a distinguished and leading player in the Italian market. WTW’s exceptional capabilities, skills, and data-driven approach provide the ideal platform for accelerating the growth trajectory of AIMUW, creating a strategic partnership aiming to achieve mutual success.”
Marco Antonio Colonna, Head of Corporate Risk and Broking, WTW Italy, added,”I am very pleased to welcome AIMUW into the WTW family as I am confident that Aldo and his high-performing team will be a catalyst, propelling the growth of WTW in Italy.
“Aligned in our values and growth strategy, centered on a client-oriented approach, with specialized solutions and the ambition to attract top-tier talents, this partnership strengthens WTW’s leadership also in the MGA market, advancing our five-year plan in our country.”
