According to our information, WeSpecialty has just acquired Cogeas, a maritime and transport insurance underwriting agency, from Diot-Siaci. This operation allows the tricolor MGA to almost double in size.
Just one year after having restructured its capital, WeSpecialty is taking a new step in driving its development. According to information from News Pro Insurance, the tricolor MGA has just acquired Cogeas, a marine and transport insurance underwriting agency. The structure – also coverholder at Lloyd’s – was created by the broker Cap Marine, which in 2016 became part of S2H (now Diot-Siaci).
Thanks to this operation, WeSpecialty will thus change scale by almost doubling in size with a volume of premiums (for the two entities combined) of nearly 40M euros. Historically positioned on very large companies with transport and political risk guarantees, the MGA will above all be able to diversify its activities, Cogeas (for Compagnie de gestion et d’assurances) addressing rather SMEs on transport, body and faculty guarantees. or marine RC and political violence.
Still according to our information, this operation should not lead to a merger of the portfolios between the two underwriting agencies, Cogeas keeping its name and its own operation. The complementarity of the two structures will allow them to have around twenty mandates with the main specialist insurers in the market, WeSpecialty becoming in the process one of the main MGAs in the tricolor market.