February 19 2025
PIB Group is writing a new chapter of its success story within the Italian insurance landscape with the acquisition of Elleti Broker S.p.A., a Rome-based broker with a consolidated know-how in the complex world of guarantees and sureties, with over 700 million euros guaranteed and more than 1,100 policies in portfolio.
This acquisition marks a significant step in PIB Group's expansion strategy, demonstrating its ability to identify and integrate innovative and well-established businesses. The acquisition of Elleti Broker expands the Group’s presence in Italy and strengthens its ties with Rome, a city that represents a strategic point for its growth and where the Group already has an office. The acquisitions of Inside 2.0, Private Broking, and Emmeb Broker, along with Elleti, bring PIB Group Italy’s total revenues to over €35 million.
Founded in 2012 by Giuseppe Tirelli, Elleti Broker quickly became one of the most recognised players in the surety bond sector. Recognised by IVASS as a reference broker in this niche, the broker stands out for its innovative approach, combining technical expertise with operational efficiency.
Elleti Broker’s strength is its ability to analyse and manage claims for surety policies with outstanding precision. Thanks to a highly specialised team, the company delivers services that exceed market standards. Over the years, Elleti Broker has built an effective business model, generating approximately €3 million in revenue in 2024, with a remarkable growth in the last three years. This success stems from a deep market knowledge and a strategic development plan that has enabled the firm to serve a diversified client base.
Elleti Broker specialises in a wide range of surety bond solutions, including tender bonds, provisional and definitive guarantees, VAT refunds, guarantees for EU funding, and insurance policies for the renewable energy and construction sectors. This expertise is particularly valuable in today’s market, which is strongly influenced by investments from Italy’s National Recovery and Resilience Plan (PNRR).
The acquisition, led by PIB Group Italy’s M&A team under the leadership of Matteo Corbari, M&A Manager, further solidifies PIB Group’s position in the Italian market and the surety bond sector, paving the way for new opportunities for growth and innovation.
"This deal confirms our vision of inorganic and strategic growth," comments Lorenzo Riccardi, CEO of PIB Group Italy and CEO of Area Brokers Industria. "The acquisition of Elleti Broker represents a key step in our growth strategy, not only for the integration of a highly qualified team but also for the opportunity to strengthen our position in the surety bond sector, a strategic area for our future."
Onno Janssen, PIB Group’s European CEO, comments: “The acquisition of Elleti Broker aligns perfectly with our mission and demonstrates our ongoing commitment to build a leading insurance group in Europe, capable of capturing the specificities of different national markets and enhancing local excellence."
Giuseppe Tirelli, founder of Elleti Broker – who will continue to lead Elleti after the acquisition – adds: “The partnership represents a new growth opportunity. Joining PIB Group gives us access to resources, expertise, and an international network that will allow us to further enhance our services and tackle new market challenges.”
This acquisition marks a significant step in PIB Group's expansion strategy, demonstrating its ability to identify and integrate innovative and well-established businesses. The acquisition of Elleti Broker expands the Group’s presence in Italy and strengthens its ties with Rome, a city that represents a strategic point for its growth and where the Group already has an office. The acquisitions of Inside 2.0, Private Broking, and Emmeb Broker, along with Elleti, bring PIB Group Italy’s total revenues to over €35 million.
Founded in 2012 by Giuseppe Tirelli, Elleti Broker quickly became one of the most recognised players in the surety bond sector. Recognised by IVASS as a reference broker in this niche, the broker stands out for its innovative approach, combining technical expertise with operational efficiency.
Elleti Broker’s strength is its ability to analyse and manage claims for surety policies with outstanding precision. Thanks to a highly specialised team, the company delivers services that exceed market standards. Over the years, Elleti Broker has built an effective business model, generating approximately €3 million in revenue in 2024, with a remarkable growth in the last three years. This success stems from a deep market knowledge and a strategic development plan that has enabled the firm to serve a diversified client base.
Elleti Broker specialises in a wide range of surety bond solutions, including tender bonds, provisional and definitive guarantees, VAT refunds, guarantees for EU funding, and insurance policies for the renewable energy and construction sectors. This expertise is particularly valuable in today’s market, which is strongly influenced by investments from Italy’s National Recovery and Resilience Plan (PNRR).
The acquisition, led by PIB Group Italy’s M&A team under the leadership of Matteo Corbari, M&A Manager, further solidifies PIB Group’s position in the Italian market and the surety bond sector, paving the way for new opportunities for growth and innovation.
"This deal confirms our vision of inorganic and strategic growth," comments Lorenzo Riccardi, CEO of PIB Group Italy and CEO of Area Brokers Industria. "The acquisition of Elleti Broker represents a key step in our growth strategy, not only for the integration of a highly qualified team but also for the opportunity to strengthen our position in the surety bond sector, a strategic area for our future."
Onno Janssen, PIB Group’s European CEO, comments: “The acquisition of Elleti Broker aligns perfectly with our mission and demonstrates our ongoing commitment to build a leading insurance group in Europe, capable of capturing the specificities of different national markets and enhancing local excellence."
Giuseppe Tirelli, founder of Elleti Broker – who will continue to lead Elleti after the acquisition – adds: “The partnership represents a new growth opportunity. Joining PIB Group gives us access to resources, expertise, and an international network that will allow us to further enhance our services and tackle new market challenges.”