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UK Insurer Admiral To Buy Spanish Digital Broker

Law360, London (May 2, 2019, 3:50 PM BST) -- Admiral Group PLC announced Tuesday that it has partnered up with insurer MAPFRE SA and private equity firm Oakley Capital to purchase Spanish digital insurance broker Acierto.com.

Admiral said that it has formed a joint venture with Oakley and MAPFRE to combine its own Spanish digital broker, which is known as Rastreator, with Acierto. The two companies currently provide brokerage services in Spain for insurance and other financial products.

The joint venture will be established as the holding company of Rastreator and Acierto, which will both continue to operate independently but share best practices. Admiral said that it will own the...

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