Ardonagh inks deal for Italian commercial lines business

The Ardonagh Group has announced its intention to acquire Mansutti S.r.l, a branch of the Italian insurance broker Mansutti S.p.A., focusing on commercial lines, as the brokerage marks another step in its expansion in the European market.

Founded in Milan in 1925, Mansutti SpA has been a family-run entity for nearly a century, primarily servicing personal clients and larger corporate entities. It currently operates under the leadership of Tomaso Mansutti.

“I am delighted to have found a partner of Ardonagh’s calibre and stature to entrust the legacy of Mansutti. Their reputation and global presence will undoubtedly propel our long-standing business to even greater heights,” Mansutti said.

Mansutti S.r.l oversees a portfolio including liability, property, employee benefits, automotive, and marine, accounting for €45.5 million in gross written premium. It currently serves 8,000 customers and employs a team of 30.

This team will remain in place, contributing to Ardonagh’s growth strategy in Europe, complementing other recent acquisitions such as Mediass, led by Gianluca Graziani, and the reinsurance and MGA operations of Teksure.

Conor Brennan, executive chairman of Ardonagh Global Partners, highlighted how this acquisition reflects the firm’s strategy as it built its foothold in Ireland, the Netherlands, Switzerland, and Greece.

“With the addition of Mansutti, alongside Mediass and Teksure, we are curating a team of top-tier experts and accelerating the diversification of our proposition, distinguishing Ardonagh Italia as the quality broking platform of choice in this mature and complex market,” he said.

Carlo Faina, CEO of Ardonagh Italia, remarked, also welcomed the addition of Mansutti, noting that it will bring additional expertise to the group.

“This partnership presents immense opportunities to harness Ardonagh’s scale and capability to create a robust ecosystem of diverse geographical regions and products, reinforcing our commitment to meeting the diverse needs of businesses in Italy,” Faina said.

The completion of this deal, alongside the previously announced acquisition of Mediass, is pending customary regulatory approvals.

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