Cambiaso Risso Group and Leonhardt & Blumberg: italian insurance broker further expands in Germany
PRESS RELEASE
CAMBIASO RISSO Group, leading insurance broking firm, with a strong worldwide presence in the shipping sector, have agreed a joint venture with Leonhardt & Blumberg insurance broker, a well-established brand in the German shipping community for 120 years.
Under this new venture, L&B will proudly join a Group that, through the strategic alliance with Diot-Siaci, currently ranks as the 3rd largest marine insurance broker worldwide and the 2nd largest in Europe and boasts a presence in more than 40 countries.
The management team – Eckart Kurtz, Andreas Prange and Sven-Erik Braun – will lead in their capacities as Managing Directors a highly motivated and capable team in Hamburg. They are excited about the opportunities that this next step will bring to the JV partners and to existing and future clients.
This deal follows only six months after Cambiaso Risso announced the acquisition of insurance broker Trident Special Risks. As far as Trident is concerned, Leo and Birte Kissel and their team will continue to operate under the umbrella of the new joint venture. It is intended that Trident will move into the L&B Hamburg premises at river Elbe in Neumühlen, where the activities of overall 40 people will be headquartered.
The move allows Cambiaso Risso to boost its presence in the German market, one of the biggest shipping communities in Europe, and heads its Marine business lines up to 10.500 vessels insured, from 20 different countries. The group staff reaches 330, with a total premium volume of USD 700 million and net revenue of USD 75 million, as an aggregate of broking, consultancy, shipbroking, shipping and forwarding agency.
