Coverys European Holdings acquires AEC SpA

Agency platform and network specialising in the professional lines sector, Coverys European Holdings, has purchased Lloyd’s coverholder and broker, TPA and MGA business, AEC SpA. This is the platform’s first acquisition.

The coverholder provides specialist liability products for both private and public bodies throughout Italy. The staff, led by chief executive officer, Fabrizio Callarà, will continue to manage the business, which will retain its existing and established brand.

Chief executive officer of CEH, Steven Spano said: “AEC is a business that we have known for some time, and I am delighted they are the first MGA to join the CEH group.

“I am certain that our combined strengths will enable us to take AEC to the next level,” he added.

Callarà added he was confident that the platform’s focus on helping entrepreneurial underwriters realise their ambitions will allow the broker to achieve its collective growth initiatives in the Italian market.

Coverys European Holdings aims to invest in specialty managing general agencies throughout the UK and Europe. Coverys is a provider of medical professional liability insurance for medical practitioners and health systems.

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