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.
