In the last weeks we shared an important communication for our Group: Corsair has agreed to sell RGI to CVC, a leading Global private equity and investment advisory firm.
This transaction is a recognition of our expansion into the pan-European leader in insurance software.
Under Corsair’s ownership, our Group has achieved significant organic and inorganic growth – and I want to thank the Corsair team, in particular Ignacio, Raja and Edward, for their invaluable guidance and support as we transformed and strengthened our business. For instance, under Corsair stewardship we made substantial progress in our shift to a SaaS-based offering to provide agility to insurers, as well as completed important acquisitions that helped us evolve from a strong national player to a pan-European leader, such as the 2019 acquisitions of Novum in Germany providing Life and P&C core solutions as well as our expansion into Customer engagement across Europe with Unimatica in 2019 and Flexperto in 2021.
We will now have the chance to access CVC’s wealth of experience and their impressive track record in helping companies like ours accelerate their growth, both organically and through acquisitions. This is going to be even more fundamental to support our client development, further shift to a platform play, and operational efficiency.
With 25 offices throughout Europe – where they have local presence in our key markets, namely Italy, France and Germany – as well as Asia and the US, CVC has approximately US$123 billion of assets under management, serving clients such as asset managers, pension funds and insurers. Thanks to their network of 320 investment professionals and 82 managing partners and partners, built in over 40 years of history, they have gained an established record of private equity investment success, which makes CVC a highly valuable partner in our growth as a company.
Moreover, CVC’s values are aligned with our own, with a strong focus on talent development, skills building and investment in innovation. I look forward to working with them to achieve the goals highlighted in our strategic plan for the next 5 years.
A new chapter in our history starts now: with CVC, a solid strategic plan, and our RGI People, I am sure that we will drive further innovation in the Insurtech industry, pursuing our trajectory to long-term success and resilience.