FIRSTANCE AND GATSBY & WHITE JOIN FORCES TO CREATE THE LEADING PAN-EUROPEAN PRIVATE INSURANCE INTERMEDIATION PLATFORM
Milan and Luxembourg, 19th December 2023. Firstance and Gatsby & White announce the signing of a binding agreement providing for the acquisition by Firstance of 100% of the outstanding shares of Gatsby & White S.A. and Gatsby & White Agency S.A. (together, “Gatsby & White”). As part of the transaction, the selling shareholders and key managers of Gatsby & White will re-invest a significant portion of their proceeds in Firstance, ensuring continuity for clients and partners and confirming their full commitment to the combined entity.
With this transaction, Firstance and Gatsby & White become the undisputed Pan-European leader in private insurance intermediation, with:
- over 33 billion Euro in combined traded assets;
- licensed presence in Italy, Luxembourg, Belgium, Liechtenstein, Monaco and Spain;
- a growing team of skilled and experienced workforce of over 80 people;
- state-of-the-art proprietary technology platform enabling automation and digitalization of clients’ and business partners’ journeys.
Massimiliano Merlo, Founder & CEO of Firstance, commented: “I am particularly pleased and proud to announce the combination of Firstance and Gatsby & White, creating the European leader in the private insurance intermediation market. We have known and respected Gatsby & White for years and are excited to join forces to better serve our clients and partners throughout Europe.This transaction represents a key milestone in our international expansion plan: together with Gatsby & White, we aim at becoming the go-to platform for our clients and partners, leveraging on a superior know-how, the shared best practices in both groups, real presence in each of the major European wealth hubs and leveraging market-leading tech capabilities across our group.”
“This new combination represents the perfect next step for the development of Europe’s first truly multi-jurisdictional wealth insurance intermediary” added Pieter Coopmans, CEO of Gatsby & White. “The transaction is an important milestone for our clients, partners and staff. - The complimentary expertise, market coverage and business models, provide a powerful foundation to serve our clients and partners, at close proximity, with the best solutions available. By leveraging the state-of-the-art technology platform and financial strength of Firstance, we will be able to accelerate our growth strategy while enhancing the service to our clients.”
