IBERIAN has announced the purchase from La Mútua dels Enginyers of a 100% stake in Crouco, an underwriting agency specializing in Professional Liability in technical lines, in a key transaction as part of its growth and expansion strategy following its entry with a majority stake in Alea Cover in 2021. With this move, the Sevillian MGA consolidates its leading position in the Spanish risk underwriting market.
It should be recalled that Crouco, headquartered in Barcelona, has been operating since 2009 as an agency specialized in underwriting risks in the Professional Liability, General Liability, D&O and Cyber Risks lines.
“The acquisition of a company of reference and solvency in the sector such as Crouco is a decisive step in our expansion strategy and in the strengthening of IBERIAN in the MGA market in Spain. In addition, its specialization in Civil Liability, which it shares with IBERIAN, places our group in a leading position in this line of business in the national market. We share with Crouco fundamental corporate values such as proximity, transparency and loyalty to our markets, so this operation has been carried out in an extraordinarily natural way. IBERIAN will put all our technological resources and know-how at the disposal of Crouco’s team of great professionals and its network of brokers to continue offering the best insurance products on the market,” said Dario Spata, CEO of IBERIAN.
For his part, Félix Ferrer-Dalmau Cusiné, director of Crouco, explained that “this alliance with IBERIAN as sole shareholder allows Crouco to consolidate its position in the sector and further raise the quality of the services we provide to our brokers, who are a fundamental part of our business model. In this sense, our agency will be able to implement important improvements in its technological and IT platforms, optimizing key processes that facilitate and streamline the day-to-day operations of our brokers”.
This announcement coincides with the celebration, on November 14, of IBERIAN Insurance Group’s tenth anniversary in a multitudinous event, its X IBERIAN Day, which will take place in Seville.