SABSEG, the leading independent insurance broker in Spain and Portugal, has announced the acquisition of the Italian firm Asigest Broker. This strategic transaction marks the beginning of an ambitious growth plan for SABSEG in Italy, aimed at positioning it as one of the most significant players in the insurance intermediation segment in Southern Europe.
Founded in 1992 and headquartered in Biella, Asigest Broker is an Italian insurance broker with extensive expertise in industrial risks, energy, construction, healthcare, and transportation. Led by Alessandro Griffith, the company operates throughout northern Italy and Rome, manages a premium volume exceeding €34 million, and serves a portfolio of over 5,100 clients.
This transaction is part of SABSEG’s strategic plan to become the leading insurance broker in Southern Europe, complementing its current presence in Spain and Portugal. Over the coming years, SABSEG—together with Asigest Broker and its management team—expects to be one of the main consolidators in the Italian market, bringing in new brokerages and talent to expand its national network and enhance customer service with additional product specialties and in-house capabilities.
The founding shareholders of the brokerage, led by Alessandro Griffith, will continue to lead Asigest Broker with the same commitment and forward-looking vision, alongside the rest of the management team.
Eduardo Dávila, Chairman and CEO of SABSEG:
“Our entry into Italy represents a natural step in our international roadmap, where we aim to lead Southern Europe. We have no doubt that Asigest Broker is the ideal partner to help drive this vision forward and reinforce our position in Southern Europe.”
Alessandro Griffith, President of Asigest Broker and SABSEG Italia:
“Joining SABSEG represents a tremendous opportunity to strengthen our value proposition and expand our capabilities while preserving our identity and way of doing things.”
This transaction was advised by Mesana, XP Advisory, DWF/RCD, KPMG and Miralles & Serra on behalf of SABSEG and Alpha Omega, Studio Girardi Tua e Studio Corbò on behalf of Asigest Broker.
About SABSEG
SABSEG is the leading independent broker in Iberia, highly specialized in corporate insurance. The company is a benchmark in sectors such as agriculture and livestock, credit and surety, international credit, marine, rental, art, and general insurance. Its commitment to technology and process digitization strengthens customer service by centralizing key functions like finance and talent management. The Group’s strategy is based on supporting the partners of its integrated brokerages, offering them a wide range of products, placement capabilities, and technological, financial, and human resources to maintain close relationships with their clients. SABSEG intermediates over €600 million in premiums, serves 200,000 clients, and has 650 employees, 45 offices, and more than 2,000 agents across Spain and Portugal.
About Asigest Broker
Asigest Broker is a long-standing independent insurance broker with over 30 years of experience in Italy and abroad. Founded in 1992 in Biella (its headquarters), the company is now ranked among the top 40 insurance brokerages in Italy, with seven national offices (Ivrea, Novara, Milan, Brescia, Verona, Rome, and Genoa).
With more than 50 professionals in Italy, Asigest Broker provides insurance consultancy and supports its clients in managing corporate risks across various sectors and industries, serving both SMEs and large international groups. Additionally, it is a member of Unison Brokers, an international network of brokerages present in over 100 countries with more than 3,500 qualified professionals, and is affiliated with A.I.B.A., Italy’s leading association of insurance and reinsurance brokers.
Asigest generated revenues of €7 million in 2024. It also collaborates with Asigest Advisor, a company specializing in Enterprise Risk Management dedicated to the assessment and management of corporate risks.