Italian company MAG buys most of Neosurance
MAG SpA Group has bought the majority of start-up brokerage Neosurance.
A statement from the company said it had acquired just over 50% of the shares. MAG said the purchase would strengthen its corporate structure.
Neosurance enables the B2B2C distribution of innovative policies through the digitization and hybridization of sales channels, by partnering with non-insurance ecosystems, such as applications, platforms and digital properties of MAG customers and partners and from Neosurance.
Pierluca Impronta, President of MAG, said: “The MAG Group has strong roots in Italian business culture and promotes its values, with a constant eye on innovation. The digital transformation we are experiencing is also revolutionizing the insurance industry and I believe it is essential to play a key role in this new scenario.
He added: “For this reason, this agreement with Neosurance represents an important opportunity that will allow us to be even more flexible and forward-looking, meeting the protection needs of businesses and individuals alike.
MAG said the agreement will enable Neosurance to accelerate its growth across a global network of insurance and reinsurance players and distribution partners. MAG will push digitization, enabling new revenue and business models at scale, in line with its advisory approach, which aims to meet the needs of businesses and individuals alike.
MAG claims to have over 8,000 corporate clients in nearly 150 countries and over 300 million policies managed in Italy.