This acquisition supports the growth strategy and value proposition of SABSEG Group, focused on consolidating leaders by niche specialty and geographic area.
SABSEG Group, independent insurance broker leader in Iberia, which manages a portfolio of €500 million in brokered premiums, has today completed the acquisition of Verobroker, a brokerage specialized in credit and surety insurance and closely linked to the Network Steel Group.
The operation has been structured under the Ores&Bryan group company, a leader in credit and surety insurance in Spain.
Founded 8 years ago, Verobroker has experienced an annual revenue growth of 24% since 2019, reaching €6.7 million in premiums in 2023.
This alliance strengthens SABSEG Group's position as a leader in the credit and surety sector, where two other brokerages of the group, Ores&Bryan and Sabseg Crédito Internacional, already operate. The group thus promotes the consolidation of this segment in regions such as Castilla León, Asturias, Cantabria, and Valencia, among others.
This acquisition supports SABSEG Group's growth strategy and value proposition, focused on the consolidation of niche specialty and geographic area leaders. The company expects to add 5 new brokerages in 2024, which would lead the group to reach €600M in premiums and grow by 50% in the number of partners that comprise it.
SABSEG Group aims to enhance its leadership position as an independent insurance broker in Iberia, incorporating leading insurance brokerages in their specialty and geographical area, with a focus on companies and high net worth individuals.
Currently, it is a reference group for its offerings of general corporate insurance and in segments such as agriculture, credit and surety, international credit, nautical, real estate, high net worth and the art sector.
The group bets on technology and the digitalization of processes to strengthen customer service by centralizing key corporate areas such as finance and talent management. The group's differential strategy is based on the fundamental role of the partners of the incorporated brokerages, to whom technological, financial, human resources support and greater product diversity are offered so they can continue to maintain a close relationship and local service with their clients. At the same time, they have access to a wide range of innovative product and service solutions that are currently only available to large companies.
Currently, the group has more than 500 million euros in premiums intermediated in 2023, a consolidated portfolio of 200,000 clients, more than 500 employees, 45 offices in Iberia and more than 2,000 agents. Thanks to its agreement with ICBA, the group has access to more than 70 countries.
For more information about SABSEG Group:
Morillas Brand Reputation
Alba Deulofeu - alba.deulofeu@morillas.com
Daniel Bargalló - daniel.bargallo@morillas.com