Cambiaso Risso Group, a top Italian name in hull & machinery insurance, has bought out Genoa-based Costa Brokers, a firm specialised in offshore and reinsurance market which also operates in protection & indemnity.
Riccardo and Andrea Costa will remain with the Genoa company, which is now set for international expansion.
Riccardo Costa commented: “We believe we found an international group which will allow us to go on supplying with the best assistance our historical clients that we particularly appreciate for the trust they granted us until today. We are convinced this operation will allow us to increase our portfolio in all lines of business where our company has been operating for over 32 years.”.
Cambiaso Risso recently widened its presence in maritime services with the acquisition of Genoa Sea Brokers, a company active in sale and purchase.
Cambiaso Risso Group formed a strategic alliance with French group Siaci Saint Honoré last year as part of sizeable expansion plans.