Coverys, the Boston-based medical professional liability and healthcare insurer, has signed an agreement for the sale of its Italian managing general agent, AEC Agenzia di Assicurazione e Riassicurazione SpA (AEC), to Edge Group, a leading Italian insurance broking platform.
Financial details of the transaction were not provided.
Founded in 2001, AEC was among the first MGAs operating in Italy and rapidly established itself as a leading provider of professional liability coverage. In 2020, it became part of the U.S. Coverys Group, continuing to be led by current CEO Alessandro Cianelli and the ACE management team.
AEC specializes in underwriting specialist risk for major national and international insurers as a wholesale intermediary and Lloyd’s coverholder.
Milan-based Edge Group is a leading Italian insurance broking platform. backed by London-based private equity firm AnaCap. Edge offers brokerage, risk management, MGA and welfare solutions for Italian corporate clients. With technical and operational support from Coverys, AEC has been able to accelerate the development of its service offering in the medical liability sector, achieving double-digit growth and consolidating an increasingly competitive market position.
Coverys said it will continue to support AEC by providing existing products and services, while also working with Edge to explore opportunities for additional product lines and premium growth.
Although terms of the transaction are confidential, both parties anticipate broader collaboration as Coverys deepens its presence across Europe, Coverys said.
“AEC is a strong, well-managed business that will continue to thrive under Edge’s ownership,” said Joe Murphy CEO of Coverys. “This transaction exemplifies our strategic approach – partnering with quality organizations while maintaining our focus on expanding Coverys’ underwriting capabilities and market reach across the UK and Europe.”
“With the acquisition of AEC, Edge significantly strengthens its presence in the MGA sector, which we consider to be a strong strategic pillar for the future development of insurance distribution in Italy,” according to Manfredo Sciarretta, Edge Group’s CEO.
“AEC’s solid structure and organizational maturity enables the delivery of immediate scalability and sustainable growth that fully aligns with our business plan,” Sciarretta added. “This trajectory will also be further supported by our enhanced partnership with Coverys, who will continue to distribute its products through AEC’s network — ensuring operational continuity and delivering real tangible value to the wider market.”
The transaction marks a strategic shift for Coverys towards a relationship-driven distribution model in the UK and Europe, the company said.
“We are seeing renewed momentum across European markets, and this relationship-focused approach positions us to capture these opportunities more effectively,” continued Murphy. “We’re excited to work with high-performing distribution partners across key markets, which enables us to deepen our presence and expand our reach throughout the region.”
The sale forms part of Coverys’ wider international growth strategy, the company said. Its London operations have cemented a strong presence in underwriting complex healthcare risks, wile Coverys International Insurance Company DAC, based in Dublin, works with MGAs across Europe – particularly in the SME space – focusing on healthcare and other specialist professional lines.
Following the successful establishment of its London and Dublin operations, Coverys said it is actively pursuing further healthcare opportunities across key European markets.
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Portuguese Insurance Broker Universalis Rebrands as Acrisure
Universalis, the Lisbon-based insurance brokerage with over 50 years in the Portuguese market, has officially rebranded as Acrisure Portugal Insurance Broker, following the acquisition of the company by Acrisure, a global fintech in 2023.
The name change reflects a deeper strategic alignment with the group’s global identity and signals a new chapter of innovation and accelerated growth, the company said. Acrisure Portugal has a national footprint of 12 offices, offering insurance solutions (families and corporate) and trade credit insurance, and a portfolio of over 25,000 clients.
“This milestone marks the culmination of a two-year integration process and reinforces our long-term commitment to our clients and partners,” said José Rodrigues, CEO of Acrisure Portugal. “We are the same trusted team, now with the added strength, scale, and innovation of a global brand behind us.”
Acrisure Portugal will maintain its existing management structure, client relationships and operational model. All legal, regulatory and licensing aspects remain unchanged, and the company will continue to operate under the supervision of ASF – Autoridade de Supervisão de Seguros e Fundos de Pensões, Portugal’s insurance and pension funds regulator.
The rebranding will roll out progressively to visual identity, website, client communications, social media, and corporate materials. For more information visit: www.acrisure.pt
Topics Agencies Insurance Wholesale
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