Acrisure Acquires Portuguese Broker Universalis
Acrisure, the Grand Rapids, Mich.-based insurance broker and fintech specialist, announced it has signed an agreement to acquire one of Portugal’s leading insurance brokers, Universalis (trademark of Corpos – Corretora de Seguros, Lda).
The transaction is under review by the Portuguese Regulator (ASF) and will be completed upon receiving regulatory approval. Financial details of the deal were not disclosed.
Since its founding in 1971, Universalis has grown its insurance premiums to over €25 million and expanded its offices network across Portugal.
The partnership with Universalis is Acrisure’s first in Portugal and adds another major European market to Acrisure’s substantial operations on the continent, which also include Spain, Italy, the Netherlands, Switzerland and the United Kingdom. Like these other country expansions, the Universalis team will tap into Acrisure’s network of sales professionals, product experts, and innovators to solve a variety of client needs.
“Universalis boasts an impressive track record of growth and has cemented its position as a strong business in Portugal,” said Greg Williams, co-founder, chairman and CEO of Acrisure. “As part of Acrisure, clients of Universalis will gain the resources of a global Fintech leader. Similarly, Acrisure benefits from working with our talented new Partners in Portugal!”
“The partnership with Acrisure will be immensely valuable to us as we integrate their tech-driven approach and capabilities into our operations,” said Ricardo Moreira, chairman of Universalis. “This will allow us to rapidly accelerate our growth in Portugal and offer clients a robust suite of solutions.”
“We are very excited to take Universalis to the next level by partnering with Acrisure, one of the world’s six largest brokers – but as a fintech company, so much more. We have had the perfect chemistry with Acrisure since the first conversations, sharing the same ambition, the same vision, and more importantly, their values fit nicely with our own,” commented José Rodrigues, Universalis’ managing director.
Source: Acrisure
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