Aug 2, 2023

August 2 (SeeNews) - US financial technology and insurance company Acrisure will acquire SDI Group in Bulgaria, with the deal expected to close by the end of September, the Bulgarian insurance broker said on Wednesday. Acrisure is taking over SDI through its Polish subsidiary Unilink, which is the majority owner of Bulgarian insurance brokerage business I&G Brokers, SDI Group said in a press release. You can subscribe to our M&A newsletter here The financial terms of the transaction were not disclosed. SDI Group will retain its management team and growth strategy while tapping into Acrisure's global footprint and expertise, the Bulgarian company added. In April, Acrisure entered the Central and Eastern European (CEE) markets by acquiring Unilink Group, a non-life and life insurance distribution platform active in Poland, Bulgaria, Romania, Czechia, Slovakia and Moldova, with a total staff of over 1,300. Founded in 2004, SDI Group was Bulgaria's top insurance broker in 2022 with revenue from insurance premiums of 148.7 million levs ($83.5 million/76 million euro), according to data published by the Financial Supervision Commission. Based in Michigan, Acrisure offers insurance, reinsurance and cybersecurity services. The company generated revenue of 4 billion US dollars ($3.6 billion euro) last year and employs a workforce of more than 14,000 colleagues in over 20 countries. (1 euro = 1.95583 levs)