Jori & Armengol

What Jori & Armengol does

JORI& is a 135-year-old independent insurance brokerage and risk management firm headquartered in Barcelona, Spain, operating under five generations of family leadership since its 1890 founding as Agencia Armengol. The company serves enterprise clients across a diversified vertical set — transport and logistics (a heritage specialization of 130+ years), construction and real estate, technology and life sciences, energy and renewables, food and beverage, financial institutions, and professional services — alongside a long-tail book of personal lines (health, life, home, auto, art and jewelry). Its GTM is direct enterprise field sales through four Spanish offices (Barcelona headquarters, Madrid, Vitoria-Gasteiz, and Mollerussa), with international program coordination delivered via memberships in UnisonSteadfast (706 brokers across 140 countries) and TechAssure (exclusive Spanish member since 2020). The firm is regulated by the Dirección General de Seguros y Fondos de Pensiones under broker license J-0942.

The product platform is built on four pillars: (1) core commercial insurance brokerage across property, casualty, liability, fleet, D&O, construction, and cyber lines; (2) JORI&CREDIT Financial Solutions, providing credit insurance, factoring, surety bonds, and collections (with a founding board seat in TCIN); (3) JORI&TECH, a cybersecurity consulting arm that helps clients achieve cyber insurance coverage through maturity assessments and security protocol implementation; and (4) Aporta, a proprietary flexible compensation platform enabling employees to customize salary composition across health, pension, and other benefits. Digital infrastructure includes the SegElevia client portal for policy and claims management, a 24h assistance line, and online corporate client event space at the Barcelona headquarters.

Revenue is generated primarily through insurance carrier commissions on placed policies (subscription/recurring in nature), supplemented by fees on credit insurance premiums, factoring, surety bond commissions, and employee benefits administration. Pricing is bespoke and not publicly disclosed, reflecting standard insurance broker economics. Growth is being pursued through an active M&A roll-up (Azetek in March 2024, Abaigar Arana in May 2024), international network expansion, and sub-brand development, with a named customer base spanning 14+ enterprise logos across a dozen industries and a Top 5 ranking among Spanish independent brokers.

Name

Jori & Armengol

Legal name

JORI ARMENGOL Y ASOCIADOS, CORREDURÍA DE SEGUROS Y REASEGUROS, S.L.

Website

https://joriarmengol.com

Company type

Private

Founded year

1890

Operating status

Operating

Headcount range

101–250 employees

Short description

JORI& is a 135-year-old independent Spanish insurance broker headquartered in Barcelona, providing enterprise risk management, insurance brokerage, trade credit, cybersecurity consulting, and flexible compensation platforms to clients across transport, construction, technology, and other sectors.

Ownership category

akta.pro rank

Headquarters

HQ city

Barcelona

HQ country

Spain

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Insurance Brokerage Commissions: JORI& generates revenue through commissions paid by insurance carriers for placing and managing insurance policies on behalf of clients. As an authorized insurance broker (Correduría de Seguros) regulated by the Dirección General de Seguros y Fondos de Pensiones (license J-0942), the firm intermediates insurance products across property, casualty, health, life, and specialty lines.
2. Financial Solutions (JORI&CREDIT): Specialized division offering credit insurance, factoring, surety bonds, and collection services. Revenue is generated through premiums on credit insurance policies, factoring fees, and surety bond commissions.
3. Employee Benefits Administration: Health insurance and flexible compensation solutions for corporate clients, generating recurring premiums and administrative fees for managing employee benefit programs.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

Jori & Armengol (JORI&) is an authorized insurance broker (Correduría de Seguros y Reaseguros) regulated by the Dirección General de Seguros y Fondos de Pensiones under license J-0942. The company intermediates insurance products across property, casualty, health, life, and specialty lines for enterprise clients, while also providing risk management consulting, employee benefits administration, trade credit/factoring services (JORI&CREDIT), and cybersecurity advisory (JORI&TECH). Founded in 1890 in Barcelona, JORI& operates through regional offices in Madrid, Vitoria-Gasteiz, and Mollerussa with international coverage coordination via UnisonSteadfast and TechAssure networks.

Product overview

JORI& is an insurance broker (Correduría de Seguros y Reaseguros) serving companies since 1890, operating as a unified platform with specialized divisions and product modules. The portfolio is organized around enterprise solutions (Transportes, Construcción, Salud & Benefits, Daños Materiales, Créditos, Programas Internacionales, Ciber-riesgo, D&O, Due Diligence, Responsabilidad Civil, Gestión de Siniestros, Vehículos y Flotas) and personal lines (Salud, Vida, Hogar, Planes de Pensiones, Decesos, Accidentes, Subsidio, Audición, Arte y Joyas, Embarcaciones, Asistencia en Viajes, Ahorro Familiar, Comunidades, Vehículos). The company operates through sub-brands: JORI&CREDIT Financial Solutions (credit, factoring, surety bonds), Jori& Tech (cybersecurity), and Aporta (flexible compensation platform). International coverage is provided through global networks (UnisonSteadfast, TechAssure).

Differentiator

Problem solved

Functional benefit

Brands

• Aporta: Flexible compensation platform allowing employees to customize their salary structure
• Jori& Tech
• JORI&CREDIT Financial Solutions
• JORI& Tech
• JORI&CREDIT
• Aporta
• JORI&

Products and services

• Salud & Benefits (Corporate Health & Flexible Compensation) Corporate health insurance and flexible compensation solutions for employees, integrating health insurance, life and accident coverage, pension plans, and the proprietary Aporta flexible compensation platform. Designed for businesses seeking tax optimization through flexible remuneration.
• Transportes (Transport & Logistics Insurance) Specialized insurance solutions for the transport, logistics, and customs sector including civil liability, goods transport, material damage, and fleet coverage. Designed for shipping companies, freight forwarders, customs brokers, and fleet operators.
• Programas Internacionales (International Insurance Programs) Customized international insurance programs for companies expanding globally, providing coverage through global networks (UnisonSteadfast, TechAssure) with local partners in every country. Coordinates coverage and claims management across multiple jurisdictions.
• JORI&CREDIT Financial Solutions Financial division providing credit solutions including surety bonds, factoring (national/international), credit insurance, collections (JORI& Collections), and vendor program management for enterprise clients.
• Jori& Tech (Cybersecurity Consulting) Cybersecurity division providing JORI&TECH 360 service for cyber risk assessment, compliance, and incident response. Helps companies improve IT security and facilitates obtaining cyber risk insurance.
• Construcción (Construction Insurance) Construction sector insurance including all-risk coverage, civil liability, decennial insurance (mandatory for new buildings), bonding/guarantees, resale protection, and developer damage coverage.
• Ciber-riesgo / Ciber 360 (Cyber Risk Insurance) Cyber risk insurance with JORI&TECH 360 service providing cybersecurity advisory, GDPR compliance, data breach response, network interruption coverage, cyber extortion protection, and incident management.
• Due Diligence (M&A Insurance) Comprehensive analysis of companies for acquisition, detecting potential risks and contingencies. Includes Private Equity and M&A insurance protocols for new acquisitions.
• Gestión de Siniestros (Claims Management) Claims management service providing constant accompaniment and proximity, with specialized team analyzing each case individually and offering adapted solutions for rapid and effective incident handling.
• Aporta (Flexible Compensation Platform) Proprietary flexible compensation platform allowing employees to customize salary structure according to personal needs, with online management tools for both employees and companies. Integrates health insurance, pension plans, and other benefits into a flexible compensation package.
• Risk Management Services Comprehensive corporate risk management services including risk analysis and assessment, customized insurance programs, cybersecurity consulting, international programs, training, and legal framework analysis.
• Responsabilidad Civil (Civil Liability Insurance) Civil liability insurance covering general RC, professional RC, environmental liability, and D&O protection for company executives against third-party claims.
• D&O (Directors and Officers Insurance) Directors and Officers liability insurance protecting company executives against claims for damages, including legal defense costs, indemnification for patrimonial losses, employee claims, and administrative fines.
• Daños Materiales (Material Damage Insurance) Business insurance covering installations and machinery against various risks including multi-risk industrial, all-risk material damage, and machinery/electronic equipment breakdown insurance.
• Vehículos y Flotas (Vehicle and Fleet Insurance) Vehicle and fleet insurance covering individual vehicles and fleet management for businesses with grouped policies offering better conditions and simplified administration.
• Salud (Family Health Insurance) Family health insurance with comprehensive medical coverage including consultations, hospitalization, surgeries, specialists, preventive care, telemedicine, mental health, and dental services.
• Vida (Life Insurance) Life insurance including risk life insurance (death coverage with critical illness and disability riders), savings capital insurance, and mixed insurance products.
• Hogar (Home Insurance)

Quantifiable outcome

• 130+ years serving the transport/logistics sector, providing privileged market positioning
• +1 more outcomes

Named customers14 records

Segments10 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eleven partnerships are on record, tiered core and minor.

• Abaigar Arana Correduría de Seguros, S.L.U.coreStrategic or Co-development Partner · 1 May 2024Abaigar Arana Correduría de Seguros was acquired by JORI& in May 2024, strengthening JORI&'s market presence and operational capabilities. The acquisition is part of JORI&'s ongoing M&A strategy to consolidate the Spanish independent broker market. Integration brings valuable knowledge, experience, and client relationships that enhance JORI&'s ability to provide personalized and effective insurance solutions.
• TCIN (Trade Credit Insurance Network by Unison)coreStrategic or Co-development Partner · 1 April 2024TCIN is a specialized network within UNISON STEADFAST, the largest global broker network with 706 members across 140 countries. JORI&CREDIT (JORI&'s financial solutions division) is a founding member of TCIN and joined the Board of Directors. Esperanza Montobbio, Director of Trade Credit-Factoring-Collections at JORI&, was appointed to the Board, bringing extensive experience from Euler Hermes (Allianz Trade). The partnership enables JORI&CREDIT to provide trade credit insurance, factoring, bonding, and auxiliary services globally.
• Azetek SeguroscoreStrategic or Co-development Partner · 1 March 2024Azetek, founded in 1990 by Luis Sánchez de la Fuente in Vitoria-Gasteiz, is an insurance broker with 15 people and collaborators distributed across several Spanish provinces. Specializing in vehicle fleet insurance, building and community insurance, liability coverage, and NGO/association insurance. Azetek joined JORI& in March 2024 (branded as JORI&AZETEK), representing a strategic acquisition that expanded JORI&'s presence in the Basque Country and brought additional talent, expertise, and market coverage.
• ANEACAMP (Asociación Nacional de Empresas de Campamentos de Verano)minorGTM or Marketing Partner · 1 January 2023JORI& has been a partner of ANEACAMP (National Association of Summer Camp Companies) since its founding, approximately 3 years prior to the 2023 Congress. JORI& participates in ANEACAMP events including the National Congress of Leisure and Free Time, which gathered over 100 representatives of leading Spanish leisure companies. The partnership provides JORI& with access to the youth leisure sector and enables exclusive insurance products for ANEACAMP members.
• IQS (Institut Químic de Sarrià)minorGTM or Marketing Partner · 1 January 2023JORI& collaborates with IQS through corporate scholarship programs, supporting academically excellent students in pursuing degrees in Engineering and Management at IQS School of Engineering and IQS School of Management. The partnership demonstrates JORI&'s commitment to talent development and educational support while building relationships with future business leaders.
• TechAssurecoreStrategic or Co-development Partner · 1 January 2020TechAssure is an international nonprofit organization created in 2000, unifying brokers specialized in technology risks, life sciences, venture capital, and emerging industry risks. JORI& was appointed as the exclusive Spanish member in 2020, being the only broker in Spain belonging to this global network of innovation risk management experts. The partnership enables JORI& to serve technology and biotech clients with specialized expertise and access to global best practices in technology risk insurance.
• UNISON STEADFASTcoreStrategic or Co-development PartnerGlobal broker network providing JORI& with access to insurance markets in 140 countries with 706 member brokers. JORI& leverages this network to design and manage international programs for Spanish companies expanding abroad and to service foreign companies established in Spain. The partnership enables coordinated coverage and claims management across multiple jurisdictions.
• Aporta (Flexible Compensation Platform Brand)coreOthersAporta is JORI&'s proprietary flexible compensation platform brand that enables employees to customize their salary composition. The platform is promoted as a white-label or affiliated service within JORI&'s employee benefits offerings. Companies use Aporta to offer health insurance, pension plans, and other benefits as flexible remuneration options.
• Jori& Tech (Cybersecurity Division Brand)coreOthersJORI&TECH is the specialized cybersecurity consulting division of JORI&, providing 360-degree security services to help clients assess cyber maturity, implement security protocols, and obtain cyber insurance coverage. The division works alongside the insurance brokerage to offer integrated cyber risk management solutions.
• Jori& Credit (Financial Solutions Division Brand)coreOthersJORI&CREDIT Financial Solutions is the specialized division providing trade credit insurance, factoring, surety bonds, and collection services. This division provides complementary financial and operational risk solutions through the insurance sector, generating membership in TCIN and board representation.
• AMICS MNAC (Museu Nacional d'Art de Catalunya)minorGTM or Marketing PartnerJORI& supports AMICS MNAC, the friends association of the National Art Museum of Catalonia, through cultural initiatives and events including the annual Gala de els Amics. JORI& contributed to acquiring the artwork 'Les tres gràcies' by Claude Collet for the museum's permanent collection, demonstrating commitment to cultural preservation and artistic heritage.

Scale indicators7 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Howden Iberia: Independent insurance broker with strong presence in Spain (rebranded from JLT Iberia post-Howden acquisition). Similar specialty-led, independent positioning competing for mid-market and large enterprise Spanish accounts across similar verticals including transport and construction.
• Miller Insurance Services: London-headquartered independent specialty insurance broker with similar ethos to JORI&: independent ownership, sector specialization, and network-based international reach. Comparable model for an independent specialist broker.
• BMS Group: Independent specialty insurance and reinsurance broker with international operations. Similar independent ownership structure and specialty-led model; useful comparable for JORI&'s international expansion ambitions.

Broad incumbents

• Marsh Spain: World's largest insurance broker with a major Madrid office, part of Marsh McLennan. Competes with JORI& for large enterprise and multinational clients in Spain across all major lines including P&C, casualty, and employee benefits.
• Aon Spain: Global insurance and reinsurance broker with significant Spanish operations. Competes directly for enterprise risk management, construction, and commercial accounts in the same verticals JORI& serves.
• Willis Towers Watson (WTW) Spain: Global advisory and brokerage firm with Spanish operations serving large enterprise clients in risk management, insurance, and benefits advisory. Competes for multinational and large Spanish corporate accounts.
• Lockton: Largest independent insurance broker globally, with Spanish and broader European presence. Competes for specialty and enterprise accounts with similar independent positioning philosophy to JORI& but at much larger scale.
• Arthur J. Gallagher (Spain): Global insurance brokerage and risk management firm with Spanish operations. Competes for mid-market and large enterprise clients; has been an active acquirer of regional brokers in Europe.

Regional players

• Garrigues Mediación: Spanish legal and professional services firm with an affiliated insurance brokerage arm. Regional Spanish competitor leveraging its legal advisory client base to provide integrated insurance solutions.
• Assegur (Mediación): Mid-sized Spanish insurance brokerage group with multi-regional presence. Comparable in scale and independent positioning to JORI&, competing in similar SME and mid-market Spanish commercial segments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/jori-armengol

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Jori & Armengol