The agreement to acquire Mediass was reached in March 2024, while the acquisition of Mansutti followed in April 2024. Credit: TippaPatt/Shutterstock.

Ardonagh Italia, a subsidiary of the Ardonagh Group, has finalised the acquisitions of two Italian insurance brokers, Mediass and Mansutti.  

Financial details of these transactions were not revealed. 

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The agreement to acquire Mediass was announced in March 2024, followed by the announcement to purchase Mansutti in April.  

Mediass, established in 1996 in Pescara, offers a range of insurance broker services including general liability, motor and professional indemnity insurance solutions.  

The company operates through a network of 96 local offices and more than 550 franchisees. 

In 2023, Mediass reported gross written premiums (GWP) of €95m ($102.22m) and generated income of €20m.  

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Mansutti, part of Mansutti S.p.A and founded in Milan in 1925 by the Mansutti family, specialises in commercial lines with annual GWPs of €45.5m across various sectors including liability, property, employee benefits, automotive and marine. 

These acquisitions will add around 128,000 customers and nearly 60 new colleagues to the Ardonagh Group, reinforcing Ardonagh Italia’s position as a provider of independent insurance broking and risk management services in Italy. 

Francesco Pirocchi, chairman, and Gianluca Graziani, CEO, will retain their leadership roles at Mediass.  

Mansutti will operate with Mediass and Teksure under the Ardonagh Italia umbrella. 

Ardonagh Italia CEO Carlo Faina said: “It is my pleasure to formally welcome the Mediass and Mansutti teams into Ardonagh Italia, combining their complementary propositions for retail, SME [small to medium-sized enterprises] , corporate and public clientele.  

“Operating from our shared platform alongside Teksure, these businesses are poised to grow a compelling offering of breadth and depth, accelerated by the scale and track record of the Ardonagh Group.” 

Last week, Ardonagh Advisory, another division of the Ardonagh Group, acquired BP Insurance Brokers, a Lancashire, UK-based personal lines broker.