GRAND RAPIDS — Acrisure LLC has acquired a major insurance distribution platform in Central and Eastern Europe.
The Grand Rapids-based global insurance brokerage and financial technology firm is acquiring Warsaw, Poland-based Unilink SA, referred to as Unilink Group in the U.S. part of its strategy to expand further into Europe, Acrisure said in a Wednesday news release.
The transaction will close after regulatory approvals. Terms of the deal were not disclosed.
Unilink Group provides nearly 7 million non-life and life insurance policies per year through a network of 15,000 external agents. The group also acts as a managing general agent through its Polish and Romanian businesses. MGAs have underwriting authority from insurers and can administer programs and negotiate contracts.
Through the acquisition, Acrisure will add more than 1,300 employees and their clients in Poland, Bulgaria, Romania, Czech Republic, Slovakia and Moldova. Acrisure employs more than 14,000 people across 1,000 locations in 21 countries.
Unilink Group, founded in 2002 as a consumer finance products distributor, by 2010 had diversified to an insurance distribution strategy with CEO Igor Rusinowski joining the business.
Rusinowski and his current management team will continue at the helm, according to the release.
Greg Williams, co-founder, chair and CEO of Acrisure, was not immediately available for comment but said in the release that the Unilink acquisition is part of Acrisure's strategy to expand.
"Igor and team have built a high-performing business that advances Acrisure's broader global ambitions to capture more of the insurance value chain while expanding our client base," he said in the release. "We'll achieve great things together, so I'm grateful to Igor for his vision and the incredible effort of our international team to complete this transaction."
Rusinowski said his team is excited to join Acrisure.
"In the last several years, we transformed Unilink Group from insurance distribution market leader in Poland to the largest player in (Central and Eastern Europe), spearheading the segment in six countries and operating through all distribution channels. In that regard, we're very aligned with Acrisure's commitment to growth, innovation and entrepreneurship," he said in the release.
Williams co-founded Acrisure in 2005. The company brokers business and personal insurance, reinsurance, cyber services and employee benefits offerings.
Acrisure generated about $4.1 billion in 2022 revenue, up from $38 million in 2014.
In late May, the company reported it closed on a Series B-2 funding round totaling $725 million in equity at a valuation at $23 billion, positioning the firm among the largest and most valuable private companies headquartered in the state.
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