MDS Brazil, a unit of Portuguese dealer MDS, has introduced the acquisition of Brokers for an undisclosed sum.
The acquired agency is an insurance coverage middleman specialising in the advantages sector with a concentrate on the medium-sized firms’ market.
Brokers, which is a boutique consultancy providing bespoke options, has been working out there for 32 years.
Its portfolio includes greater than 120,000 prospects with roughly R$280m in premiums.
MDS Brazil CEO Ariel Couto mentioned: “The acquisition reinforces our well being and advantages enterprise unit and consolidates us among the many largest brokerages on this phase. Along with a extremely certified staff, Brokers provides sturdy information and expertise in managing purchasers within the center phase – which is strategic for us.
“Though it additionally has companies in fairness dangers, monetary threat liabilities, its portfolio is usually made up of consumers in the advantages phase who now have entry to all our services. It’s an initiative that, just like the others, goals to make the corporate higher, not simply greater.”
Brokers’ current administration staff, led by primary companions Marcelo Schaimberg, Ricardo J. Levyand, and Paulo Chut will proceed to guide the corporate’s operations.
In keeping with Chut “the MDS Group has lots so as to add to the operation of Brokers and its prospects and staff, since prospects may have an excellent higher vary of services at their disposal and Brokers staff will now have extra alternatives to their skilled improvement and progress.”
Early this month, MDS was acquired by UK-based insurance coverage dealer Ardonagh Group.