SABSEG, the leading independent insurance brokerage in Spain and Portugal, has announced the acquisition of the Italian firm Asigest Broker. This strategic deal marks the beginning of SABSEG’s ambitious growth plan in Italy, with the goal of positioning itself as one of the most relevant players in the insurance brokerage sector in Southern Europe.
Founded in 1992 and headquartered in Biella, Asigest Broker is an Italian insurance brokerage firm with extensive experience in industrial risks, energy, construction, health, and transportation. Led by Alessandro Griffith, the company has a strong presence across Northern Italy and Rome, manages a premium volume of over €34 million, and serves a portfolio of more than 5,100 clients.
This acquisition is part of SABSEG’s strategic plan to become the leading insurance broker in Southern Europe, complementing its current presence in Spain and Portugal. In the coming years, SABSEG, together with Asigest Broker and its management team, aims to be one of the main consolidators in the Italian market, bringing in new brokerages and talent to expand its national network and strengthen its client offering with new product specializations and internal capabilities.
The founding shareholders of the brokerage, led by Alessandro Griffith, will continue to lead Asigest Broker with the same commitment and forward-looking vision, together with the rest of the management team.
Eduardo Dávila, Chairman and CEO of SABSEG, said: “Our entry into Italy represents a natural step in our international roadmap to lead Southern Europe. We are convinced that Asigest Broker is the ideal partner to advance this vision and consolidate our leadership in Southern Europe.”
Alessandro Griffith, Chairman of Asigest Broker and SABSEG Italy, commented: “Joining SABSEG represents a huge opportunity to strengthen our value proposition and expand our capabilities while preserving our identity and way of doing things.”
This transaction was advised by Mesana, XP Advisory, DWF/RCD, KPMG and Miralles & Serra on behalf of SABSEG, and by Alpha Omega, Studio Girardi Tua and Studio Corbò on behalf of Asigest Broker.
SABSEG is the leading independent broker in Iberia, with deep specialization in corporate insurance. The company is a reference in sectors such as agriculture, credit and surety, international credit, marine, rentals, art, and general insurance. Its commitment to technology and process digitalization strengthens its customer service by centralizing key functions such as finance and talent management. The group’s strategy is based on supporting the partners of integrated brokerages, offering them a wide range of products, placement capabilities, and technological, financial, and human resources to maintain close relationships with their clients. SABSEG intermediates more than €600 million in premiums, serves 200,000 clients, and has 650 employees, 45 offices, and over 2,000 agents in Spain and Portugal.
Asigest Broker is a long-established independent insurance brokerage with more than 30 years of experience in Italy and abroad. Founded in 1992 in Biella (headquarters), the company is currently among the top 40 insurance brokerages in Italy, with seven offices nationwide (Ivrea, Novara, Milan, Brescia, Verona, Rome, and Genoa).
With more than 50 professionals in Italy, Asigest Broker provides insurance consultancy and supports clients in managing corporate risks across various fields and industrial sectors, serving both SMEs and large international groups. It is part of Unison Brokers, an international network of brokerages present in over 100 countries with more than 3,500 qualified professionals, and is a member of A.I.B.A., the leading association of insurance and reinsurance brokers.
Asigest achieved revenues of €7 million in 2024. It also collaborates with Asigest Advisor, a company specializing in Enterprise Risk Management, dedicated to the assessment and management of corporate risks.
For more information: https://www.asigestbroker.com/
Image: Eduardo Dávila and Alessandro Griffith
Image: Eduardo Dávila and Alessandro Griffith
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