Acquisition completed in Germany by Cambiaso Risso
The insurance brokerage firm has acquired Trident Special Risks Versicherungsmakler GmbH, which is based in Hamburg.
Cambiaso Risso, an insurance brokerage company with a strong global presence in the marine sector, announced that it has completed the acquisition of 100% of Trident Special Risks Versicherungsmakler GmbH, a Hamburg-based insurance broker and member of BDVM (German Association of Insurance Brokers).
A statement reads that Trident Special Risks is a family business, initially founded and managed by Leo Kissel, with Birte Kissel later joining the team in 2018 to focus on financial and administrative management. The company's growth, particularly as a niche broker in the hull and special risks, “was favored not only by relationships with customers and the insurance industry, but also by the desire and ability to constantly push towards an effective digitalization process.”
Trident Special Risks thus becomes part of a group, Cambiaso Risso, which, as part of Diot-Siaci, is currently the third-largest marine insurance broker in the world and the second-largest in Europe, boasting a presence in over 40 countries worldwide. "Both Leo and Birte Kissel will continue to manage the Hamburg office team, excited about the opportunities this transaction will bring to all involved," the statement concludes.
This new acquisition gives Cambiaso Risso a direct presence in the German market with its own office in Hamburg, one of Europe's largest maritime communities, and the ability to broker insurance for 9.500 vessels in over 20 countries worldwide. The Group employs over 300 people, and in 2022, achieved total premium income of $440 million and net revenues of $57 million from insurance brokerage, consulting, and maritime agency services.
Founded in Genoa in 1946, Cambiaso Risso currently operates through 16 offices with over 300 employees, 206 of whom are in insurance brokerage, representing 19 different nationalities. It is a consultant and broker in Hull & Machinery, Cargo, and P&I insurance, a maritime agent for ships and yachts, and a broker in purchase, sale, and dry charters. It has direct access to the world's major insurance markets with its own offices in London, Bergen (Norway), and Singapore.
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