Fintech and insurance broker Acrisure has announced the acquisition of Universalis, expanding its footprint in Portugal and marking its sixth market in the European continent. The transaction is pending a review by Portuguese regulators and will be complete subject to their approval.
Universalis, a Portuguese brokerage founded in 1971, has grown its insurance premiums to over €25 million and expanded its offices network across the country. With the acquisition, Acrisure now has a major presence in six European markets, including Spain, Italy, the Netherlands, Switzerland, the United Kingdom, and now Portugal.
Acrisure co-founder, chairman, and CEO Greg Williams said that Universalis’ growth has cemented its position as a strong business in Portugal, making it an opportune acquisition for the fintech.
“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,” Williams said in a news release.
In April, the firm finalized its rebranding as Acrisure from Double S Insurance Broker after its move into Italy.
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