Michigan, U.S.-based financial services and insurance brokerage firm Acrisure reports it has acquired a top insurance brokerage in Spain, Summa Insurance Brokerage.
Since its founding in 2005, Summa has grown revenues to more than €11.5m ($13m) and expanded its offices and franchises throughout Spain, according to the announcement.
The acquisition is Acrisure’s first expansion into the Spanish market. The deal brings the number of countries where the company has a physical presence to 10. This follows Acrisure’s recent announcement of its acquisition of the Brazilian firm It’sSeg last October and its existing operations ip Italy, the Netherlands, Switzerland and the United Kingdom.
The deal brings Summa into Acrisure’s global network that provides insurance, reinsurance, asset management, real estate and cyber services.
“The partnership with Acrisure will be immensely valuable to us as we integrate their tech-driven approach and capabilities into our operations,” said Jose Antonio Vargas Gonzalez, Summa president and chief executive officer.
Acrisure has grown revenue from $38 million to more than $3.5 billion in eight years and has locations in 10 countries.
Topics Mergers & Acquisitions Agencies
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