MDS announces its first acquisition of a broker in Spain
The MDS Group (“MDS”), part of The Ardonagh Group, has announced it has agreed to acquire insurance broker Cobian Insurance Brokers (“Cobian”).
Founded in 2018, and headquartered in Madrid, Cobian has a focus on commercial insurance, particularly in industrial risks, energy, construction and financial lines. Pablo Cobián, CEO of Cobian Insurance Brokers will continue to be part of the management team, driving growth in the Spanish market.
José Manuel da Fonseca, MDS Group CEO, said “The acquisition of Cobian Insurance Brokers is a decisive step towards consolidating our operations as an Iberian platform. Our strategic ambition is to strengthen our presence and links within the Iberian and Latin American markets and my thanks go to Álvaro Mengotti, Board Member of MDS Group, who has played a key role in identifying growth opportunities in these geographies.”
Álvaro Mengotti, Board Member of MDS Group, adds “Spain is one of the largest European insurance markets and Cobian is highly complementary to our existing private sector portfolio and bolsters our presence in the Spanish region. We look forward to continuing to build on their solid foundation, ensuring the best possible outcomes for our clients and partners. I wish a warm welcome to Pablo and the Cobian team to the MDS family.”
Pablo Cobian, CEO of Cobian Insurance Brokers, said: “Our integration into the MDS Group will strengthen and expand our service to our clients thanks to its expertise and access to important resources in specialty insurance and technology.”
This deal follows the recent acquisition of D'Or Consultoria, one of the largest brokers in the corporate benefits segment in the Latin America market, by MDS Group.
The completion of this acquisition is subject to normal regulatory approvals.
Ends
Notes to Editors
THE ARDONAGH GROUP
The Ardonagh Group is one of the world’s largest independent insurance distribution platforms and a top 20 global broker. We are a collection of best-in-class entrepreneurial and specialist brands with a combined workforce of over 10,000 colleagues and a network spanning 200+ locations in more than 30 countries. Across our portfolio, we offer a highly diversified range of insurance-related products and services across the full insurance value chain globally. From complex multinational corporations to individuals purchasing personal insurance policies, our understanding of the communities we serve, together with our scale and breadth, allows us to work with our insurer partners to deliver a broad range of product and risk solutions that meet customer needs.
MDS GROUP
Part of The Ardonagh Group, MDS - The MDS Group is a leading multinational in insurance and reinsurance brokerage, risk consultancy and benefits management, present in 131 countries through Brokerslink, and since 2022, is part of the Ardonagh Group one of the 20 largest insurance brokerage groups in the world, employing around 10,000 people in its more than 250 offices. The MDS Group is the market leader in Portugal and Angola, an important player in Brazil, and is directly present in Mozambique, Spain, Malta, Switzerland, Cyprus, Chile, Mexico, USA and China. Through Brokerslink, a global brokerage company founded by the group and which employs around 45,000 insurance professionals, it responds to the needs of its clients in the most diverse geographies and sectors.
Contacts
Isabel Correia | + 351 937 612 329 | isabel.correia@h-advisors.global
Ricardo David Lopes | + 351 969 406 670 | ricardo.davidlopes@h-advisors.global
Latest announcements
Bendigo Insurance Brokers Pty Ltd joins forces with Envest
Bendigo Insurance Brokers Pty Ltd, a trusted name in the Bendigo community for over 35 Years, is pleased to announce a new partnership with The Envest Group. Envest, has acquired a majority stake in the business and adds Bendigo Insurance Brokers to its growing network of Aviso Group brokers.
MDS announces its first acquisition of a broker in Spain
The MDS Group (“MDS”), part of The Ardonagh Group, has announced it has agreed to acquire insurance broker Cobian Insurance Brokers (“Cobian”). Founded in 2018, and headquartered in Madrid, Cobian has a focus on commercial insurance, particularly in industrial risks, energy, construction and financial lines. Pablo Cobián, CEO of Cobian Insurance Brokers will continue to be part of the management team, driving growth in the Spanish market.