Acrisure has expanded into Spain with its recent Summa Insurance Brokerage acquisition, made in an effort to further expand its global footprint.
“The partnership with Acrisure will be immensely valuable to us as we integrate their tech-driven approach and capabilities into our operations,” said Jose Antonio Vargas Gonzalez, Summa’s president and CEO. “This will allow us to rapidly accelerate our growth in Spain and offer clients a robust suite of solutions.”
The acquisition, serving as the first of its kind in the Spanish market, brings the Michigan-based company's operations to a total number of 10 countries, which include Italy, the Netherlands, Switzerland and the United Kingdom. The addition was announced shortly after the global insurance broker confirmed its partnership with Brazilian firm It’sSeg.
“As we continue to look for ways to strategically expand our global presence, marrying the expertise of Summa in one of Europe’s key markets with the vast technological resources of Acrisure, brings a great opportunity for us to meet our common goals,” said Jason Howard, president of Acrisure International.
Considered one of the top brokerages in the Spanish market, Summa has garnered more than $13 million in revenue. Through this new deal, the company’s numerous offices and franchises throughout Spain will now offer insurance, re-insurance, asset management, real estate and cyber services, among other brokerage solutions.
“Summa has an impressive track record displaying strong growth over the last several years while solidifying their position as a top insurance broker in Spain,” said Greg Williams, co-founder, CEO and president of Acrisure. “Summa’s exceptional team and their particular focus on training insurance experts with multidisciplinary skills makes for a strong combination as we continue our geographical expansion.”