Mid-market private equity firm Oakley Capital has invested in Italian private health insurance services provider ONHC. The investment is being made through Oakley’s insurance services platform, Tiger HoldCo. Oakley is investing alongside CEO Filippo Ceppellini and his management team, who will continue to lead ONHC.
Founded in Genoa in 2007, ONHC’s services span consulting, product development, intermediation, underwriting, and third-party administration. The company has partnerships with Italy’s largest health insurance carriers.
Healthcare spending in Italy is increasingly shifting towards the private sector, driven by the country’s rapidly ageing population and mounting pressure on the public health system. At the same time, Italy remains underinsured compared to other European countries, with low private healthcare coverage.
This will be the first acquisition by Tiger, which focuses on businesses in the commercial speciality insurance space across Southern Europe. The firm says it will support ONHC’s next phase of growth by expanding its client base, broadening its service offering, and leveraging Oakley’s buy-and-build expertise to drive strategic M&A in Italy’s fragmented market for healthcare insurance services.
The investment in ONHC follows Oakley’s separate acquisition in 2024 of Konzept & Marketing, an independent Managing General Agent in the German personal, non-life insurance market.
