Brera Partners, a private equity firm specialising in investments in the asset light financial services sector, has acquired 70% of the shares in Italian insurance broker GBSAPRI Group. Financial details of the transaction have not been disclosed.
Headquartered in Rome with nine offices across Italy, GBSAPRI Group was established in 1951 to service SMEs, corporates and the public sector. The brokerage has grown its specialist expertise via acquiring local insurance intermediaries across different verticals and sectors, covering: marine, cargo, aviation, financial institutions, employee benefits and affinity groups, reinsurance, risk management and claims management.
In a press statement, Brera said the acquisition will enable GBSAPRI Group to continue its aggregator business model and acquire a series of businesses currently in the pipeline to grow its presence on the Italian market.
