Brokers & Partners, the consolidation project group in the insurance brokerage space backed by Miura Partners, has reached an agreement with the Portuguese leader company Sabseg Seguros (Sabseg) to join the group. Following this acquisition, the group will be rebranded as Sabseg Group, reinforcing its position as the leading independent broker in the Iberian Peninsula, with a strong specialization in solutions for corporates and SMEs.
Sabseg Seguros is the largest insurance broker in Portugal. Founded in 1999 and based in Lisbon, Portugal, Sabseg has a prominent presence throughout 35 locations across this country, as well as offices in Brazil, Angola and Mozambique. The company employs 285 workers, generates over €350 million in annual GWP, and provides comprehensive coverage to more than 200,000 individual clients and businesses.
The management team, led by Sabseg’s president Miguel Machado, will continue to lead the project in Portugal and the Portuguese-speaking countries.
This latest transaction highlights the strong pace of consolidation within Sabseg Group, which expects to exceed €500 million euros in GWP, reach a consolidated EBITDA of more than €20 million, along with commissions exceeding €60 million by the end of the year. In addition to Sabseg Seguros, the group also includes Banasegur, Ores & Bryan, and Brokers Consultores, with a broad geographical presence in Spain, and a strong specialization in credit and surety, as well as corporate, multi-risk, health, D&O, agricultural and cybersecurity insurances.
In the coming months, Sabseg Group plans to close agreements with five more brokerages. The forthcoming additions are part of a long-term vision of becoming the leading independent broker in Southern Europe, able to offer its clients the best insurance coverage available in the market.
The transaction has been advised by Clearwater (M&A), EY, RRP (Due Diligence and Legal) and Roland Berger (Commercial DD), and it is pending approval by the Portuguese insurance regulatory authority.
About Sabseg Group
Sabseg Group -formerly Brokers & Partners- aims to become the leading independent broker in the Iberian Peninsula, by including leading insurance brokers in its niche and/or geography with a high specialization in commercial lines. The project clearly supports technology and process digitalization to enhance customer service by centralizing key corporate areas such as finance and talent management.
The group’s differentiating strategy is based in the fundamental role played by the partners of the brokers that join the project, who are offered technological, financial and human resources support, as well as a wider diversity of products so that they can continue to provide a close relationship and a local service to their clients. In addition to this, they are provided with a broad range of innovative products and insurance solutions that are currently only available for larger corporations.
About Sabseg Seguros
Sabseg Seguros is a leading insurance broker in Portugal. Founded in 1999, and based in Lisbon, Portugal, Sabseg has a strong presence throughout 35 locations across the country, as well as offices in Brazil, Angola and Mozambique. Sabseg employs 285 workers, generates over €350 million in annual GWP, and provides comprehensive coverage to more than 200,000 individual clients and businesses.
About Miura Partners
Miura Partners is a purpose-driven Private Equity firm. With offices in Barcelona and Madrid, the firm specializes in investing in small and medium-sized family-owned and entrepreneurial companies. Miura provides attractive growth and innovation plans with a clear focus on sustainability, under its three investment strategies: Buy-outs, Impact, and Agribusiness.
Since 2008, Miura has invested in more than 50 companies, for a total value in excess of €2.0 billion. Currently, the firm has €1.2 billion Assets under Management.
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