MSA Mizar, a Milan, Italy-based provider of outsourced insurance claims management services, acquired Veta+, an independent company which specializes in property insurance outsourcing in Spain, from Kartesia’s Credit Opportunities strategy.
The amount of the deal was not disclosed.
This acquisition will align with MSA’s broader vision of consolidating its presence in key international markets, particularly Spain and France, while driving diversification and scale.
Veta+ operates with a tech-driven business model empowered by a proprietary, in-house-developed platform, which incorporates advanced AI components, integrated into the claims management process, from initial reporting to final settlement. It can outsource every stage of the claims management process, offering businesses flexible solutions: from comprehensive end-to-end support to specialized services such as claim initiation, appraisal, liquidation, management, or repair.
The company contributes a turnover of approximately €35m and manages more than 700,000 claims annually across the Iberian Peninsula. This integration also adds the expertise of nearly 400 employees, 120 claims specialists, and 450 repair professionals to the Group.
Founded in 1979 by Salvatore Campus as MSA-Multi Serass and led by Group CEO Giovanni Campus, MSA Mizar is now the holding company for a Group operating in Italy and eight European countries, with a turnover of €75M in 2023. In 2022, it partnered with Columna Capital, which valued the business at over €120M.
MSA Mizar includes seven companies specializing in various aspects of claims management, such as portfolio operations, trustee coordination, recovery management, litigation, and hail damage claims. These include MSA-Multi Serass, N4C, Legalade, RipArte, Acclàims, and Dottor Grandine.
FinSMEs
03/12/2024