Edge Group to acquire Aec Underwriting Agenzia Di Assicurazione E Riassicurazione from Coverys for €23.15m.

Edge Group, an Italian insurance broking platform backed by AnaCap Financial Partners, a private equity investor specializing in European financial services, agreed to acquire AEC Underwriting Agenzia di Assicurazione e Riassicurazione, an insurance brokerage and managing general agent, from Coverys, a medical professional liability insurer, for €23.15m. "With the addition of AEC, EDGE significantly strengthens its presence in the MGA sector, which is considered strategic for the evolution of insurance distribution in Italy in the coming years. AEC has a structure and organization, effectively led by Alessandro Cianelli, capable of ensuring immediate scalability and sustainable growth, key elements of our business plan. This path will be further supported by the strengthened relationship with Coverys, which will continue to distribute its outstanding products through the AEC network, with tangible benefits in terms of business continuity and market value," Manfredo Sciarretta, Edge Group CEO.