Econostrum | Economic News in the Mediterranean



Insurance broker Verlingue buys out its Portuguese counterpart Luso Atlântica

Luso Atlântica has three locations in Portugal (photo: Luso Atlântica)
Luso Atlântica has three locations in Portugal (photo: Luso Atlântica)
PORTUGAL / FRANCE. The French broker Verlingue (€2.2 bn premiums negotiated and 1200 employees), the insurance brokerage subsidiary of the Adelaide Group (€2.6 bn premiums and 2 100 employees), announces, on Thursday 10 December 2020, the signing of a contract for the acquisition of Luso Atlântica. Established in Lisbon, Porto and Portimao, Portugal's fifth largest independent broker employs a hundred or so employees for €12m in turnover and €100m of managed portfolio. It specialises in corporate risk protection and management.

The governance of Lusa Atlântica will be retained. "Our international success is based on strong local management teams in each country. With the acquisition of Luso Atlântica, we are integrating into the group a committed team of experts who will fully participate in our ambition to become a major player in Europe", comments Benjamin Verlingue, Director of Verlingue's international subsidiaries. The Adelaide Group has already carried out several external growth operations in Great Britain (via Verlingue) and Switzerland (under the Advantis, S&P and Meex brands).

It has been present in Portugal since 2015 with its subsidiary Génération, a broker (250 employees) dedicated to the management of provident and healthcare benefits.

Eric Apim

Thursday, December 10th 2020

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