Admiral Group Acquires Spanish Insurance Aggregator
Back in April, Admiral Group announced a joint venture with private equity investor Oakley Capital and MAPFRE to combine Rastreator.com with Acierto.com; two of Spain’s most regarded digital brokers for insurance and other financial products.
Rastreator is the Group’s digital insurance broker in Spain.
Acierto.com is another digital insurance broker in Spain that allows consumers to compare prices from over 30 insurance providers.
Under the terms of the transaction, a joint venture company will be established as holding company of both Rastreator and Acierto. Admiral and MAPFRE will collectively retain majority ownership of the joint venture company while Oakley Capital will hold a minority stake alongside management.
“We are pleased to announce this transaction and partnership with Oakley Capital, which will strengthen the Group’s insurance proposition in Spain as a digital insurance broker. The holding of both Rastreator and Acierto allows us to take advantage of synergies to enhance the customer experience, which will benefit customers across Spain.” – Group CEO David Stevens.