+Simple acquires GMBC

French insurance broker +Simple is acquiring GMBC, a German insurance company that helps companies set up and run MGAs.

+Simple has acquired 100% of GMBC through a combination of cash and stock with GMBC’s co-founders, Martin Brumberg and Sergey Grazhdankin, remaining as the executive team of GMBC and becoming shareholders in +Simple.

By leveraging the integration with +Simple, GMBC will be able to offer its MGA solution to insurers and reinsurers seeking to develop insurance distribution with a lean cost structure.

Founded in 2015, +Simple disclosed ~$36 million in funding and it operates in France, Germany, Austria, Italy and Spain. It has over 150 employees and 100k customers.

GMBC was founded in 2013 and is a team of ~20.

“This acquisition marks a new era of seamless integration, increased efficiency and extended capabilities for our businesses. By leveraging GMBC’s unique data management platform, we can offer a superior level of transparency and control to our insurance and reinsurance partners. It is also fantastic news for our clients, so we can expand our capacity to address complex and multiform risks for their activities.” – Eric Mignot, chairman and founder of +Simple.

“A combination of +Simple and GMBC is a rare match. Together we can benefit from multiple immediate synergies and unlock abundant potential for further scalability and growth. We are very pleased to join forces with +Simple’s team as we share the same culture of innovation and delivering top-class product to our clients.” – Sergey Grazhdankin, co-founder and managing partner of GMBC.