Verlingue acquires majority ownership of ISA in INSER.

Verlingue announces the acquisition of INSER S.p.A. In line with the strategic plan Verlingue 2024, the French Group consolidates the objective of building a large European insurance intermediation group, family-run and independent.

The objectives of participation in the Italian market are clear:· Verlingue chooses Italy as the fifth country of expansion after France, Great Britain, Switzerland and Portugal;· INSER represents the 7th international acquisition in just 7 years;· Verlingue becomes majority shareholder of the broker INSER, one of the main independent Italian insurance intermediaries;· the historical shareholder, ISA, remains as a minority shareholder to continue to support its growth path in Italy;· all 160 INSER employees join Verlingue, whose international turnover now accounts for 35% of turnover. Founded in 1979 in Trento, INSER S.p.A. is one of the leading independent players in the Italian insurance intermediation market. Its activities focus in particular on business risks and public procurement. The Italian broker, developed through targeted organic growth and a strategic programme of acquisitions, employs more than 160 employees in 8 offices in Northern Italy (Trento, Brescia, Parma, Milan, Bergamo, Vicenza, Udine) and Central Italy (Rieti). Verlingue enters an important strategic market such as Italy, achieving its seventh acquisition outside France in just seven years, which saw the French Group arrive in Switzerland (2016, 2017 and 2019), the United Kingdom (2018) and Portugal (2020 and 2022). This transaction on the Italian market consolidates and accelerates the implementation of the 2024 Strategic Plan of the Adelaïde Group: the objective is to position itself as a reference broker on the Italian market for micro-enterprises, SMEs, large enterprises and public entities. An important step that increasingly guarantees a European dimension to the French Insurance Brokerage Group, an independent family business, serving an increasingly international clientele. The signed partnership provides for Verlingue to become the majority shareholder of INSER, while the historic shareholder, ISA, will remain with a minority stake, continuing to support the growth path in Italy. Giorgio Franceschi, Managing Director of ISA, said: "We are very satisfied with this operation. In the Family Group Verlingue we have found a solid and credible international partner, which will now contribute to a new phase of development of Inser, historical and important participatory of ISA, that we have accompanied in its path of growth and in which we will continue to be present. The partnership between Verlingue and ISA represents a great opportunity to create value for the benefit of customers, employees and the whole territory". Pierpaolo Ruggeri, Managing Director of INSER, commented the partnership: "Verlingue’s European project is exciting and Italy is a strategic country. Thanks to the collaboration we will be able to strengthen our development path, both through organic growth and through targeted acquisitions, to consolidate our positioning and offer a high quality service to our customers." Benjamin Verlingue, Managing Director of the Adelaïde Group: "I am pleased that Adelaïde is expanding into Italy, which is the fourth largest insurance market in Europe. This opens up many positive prospects for our customers, who are increasingly international. In a consolidation industry, being a family-run insurance broker with an ambitious and long-term vision allows us to propose an attractive project for teams that decide to join our adventure. I am happy that INSER and ISA made this choice" . Anne-Jacques de Dinechin, Managing Director of Verlingue: "Our international success is based on strong local management teams in every country. With the acquisition of INSER, we integrate into the Group a team of committed experts who will fully participate in our ambition to become one of the leading players in Europe". About VerlingueInsurance intermediary specialized in the protection of companies, Verlingue is a subsidiary of the Adelaïde Group. Committed to supporting entrepreneurs, Verlingue’s ambition is to make the management of business risks and the protection of employees a true lever of value creation and performance for its customers. With offices in France, Portugal, Switzerland, the UK and Italy, and through its partners in more than 100 countries, Verlingue accompanies its customers in the long term and at all times, to better understand and anticipate new risks with the aim of designing and managing, together with them, simple and efficient solutions to protect their activities (business risks) and their collaborators (complementary social protection and pension).1,350 employees, of which 550 internationally2.350 M€ of prizes negotiated on behalf of its customersPresent in 5 countries in Europe