Sabseg purchases insurer Velmese

The insurance broker Sabseg has acquired the total share capital of Velmese, an insurer based in Valença do Minho, Portugal.

Velmese had a turnover of €167,000 in commissions in 2023 with net profits of around €25,000.

The broker had an exclusive agreement with Liberty, but being independent its partners were linked to other commercial businesses.

Sabseg Seguros is a 100% and totally independent multinational Portuguese company represented in four Portuguese-speaking countries on three continents. It has 201-500 employees.