HomeItalyInsurtech, Archimede SpA to Float on AIM

Insurtech, Archimede SpA to Float on AIM


The Board of Directors of insurtech company Archimede S.p.A. deliberated the next formal startup of the listing process on the AIM Market of the Italian Stock Exchange targeting €30-47m funding.

Archimede is the new Special Purpose Acquisition Company (Spac) promoted by insurance manager Andrea Battista, banking expert Giampiero Rosmarini and insurtech thought leader Matteo Carbone.

The company signed a non-binding letter of intent for the implementation of the business combination with Net Insurance Group – an operator of the Italian market in the insurance coverage for loans on salary products – as a basis for the startup of the entire project. The understanding is subject to the following signing of a binding agreement and to the obtaining of the foreseen regulatory approvals.

The target is to set-up an insurtech company of the Italian Market which, leveraging specific managerial and entrepreneurial track-record of the management team, generates:
– growth in the reference segment of the insurance company deriving from the business combination;
– independent non-life bancassurance platform;
– service capacity for innovative insurance distribution networks;
– employment of insurtech innovation in all insurance processes.