Acrisure buys Spanish brokerage

Acrisure LLC has bought Madrid-based Summa Insurance Brokerage, the acquisitive brokerage announced Wednesday.

Summa was founded in 2005 and has more than €11.5 million in annual revenue ($13.7 million), Grand Rapids, Michigan-based Acrisure said in a statement.

The deal marks Acrisure’s first acquisition in Spain. The company has existing operations in Italy, the Netherlands, Switzerland and the United Kingdom.

Acrisure, which is the world’s ninth-largest brokerage, according to Business Insurance’s most recent ranking, was the most acquisitive U.S. brokerage last year.

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