Romanian insurance brokerage firm, sold to a foreign insurance broker

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A Romanian company specializing in the sale of insurance will be bought by a rival company, on the profile market in Romania, which is part of a large American insurance brokerage group, the Bucharest Competition Council authorizing the purchase on Thursday.
As part of this transaction, the company Globasig Broker de Asigurare – Reasigurare S.R.L., until now owned by Antonio Babeti, is sold to the company Safety Broker de Asigurare S.A., part of the American group Acrisure L.L.C., the number 4 insurance broker in the USA and the number 6 worldwide.

The Romanian company is 80% owned by Unilink Europe SP. Z.O.O. from Poland, according to official data collected by the Termene.ro portal. The Poles had bought Safety Broker in 2022.

In turn, Unilink Europe was acquired by the American fintech Acrisure in 2023. Other shareholders of the Romanian insurance broker are Viorel Vasile (15%) and Robert Niță (5%). In 2022, Safety Broker de Asigurare S.A. made revenues of 166 million lei (33 million EUR) from brokerage activity and net profit of 8.6 million lei (1.7 million EUR), with 132 employees, according to official data from the Ministry of Finance.

Before the transaction, the company was controlled by businessman Grigore-Antonio Babeti, according to data from Termene.ro. In 2022, the Romanian company obtained revenues of 27.5 million lei (5.5 million EUR) from the brokerage activity and net profit of 4 million lei (800,000 EUR), with 15 employees

Following the analysis, the Competition Council found that “this operation does not raise significant obstacles to effective competition on the Romanian market or on a substantial part of it and that there are no serious doubts regarding its compatibility with a normal competitive environment.”
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