17 May 2023Analysis

Acrisure buys Portuguese broker

Acrisure has signed an agreement to acquire Portuguese insurance broker Universalis.

The transaction is under review by the Portuguese Regulator (ASF) and the transaction will complete subject to their approval.

Since its founding in 1971, Universalis has grown its insurance premiums to over €25 million and expanded its offices network across Portugal. The partnership with Universalis is Acrisure’s first in Portugal and adds another major European market to Acrisure’s substantial operations on the continent, which also include Spain, Italy, the Netherlands, Switzerland and the United Kingdom. Like these other country expansions, the Universalis team will tap into Acrisure’s network of sales professionals, product experts, and innovators to solve a variety of client needs.

“Universalis boasts an impressive track record of growth and has cemented its position as a strong business in Portugal,” said Greg Williams, Co-Founder, chairman and chief executive Acrisure. “As part of Acrisure, clients of Universalis will gain the resources of a global Fintech leader. Similarly, Acrisure benefits from working with our talented new Partners in Portugal.”

“The partnership with Acrisure will be immensely valuable to us as we integrate their tech-driven approach and capabilities into our operations,” said Ricardo Moreira, chairman of Universalis. “This will allow us to rapidly accelerate our growth in Portugal and offer clients a robust suite of solutions.”