Elleti Broker S.p.a.

What Elleti Broker S.p.a. does

Elleti Broker S.p.A. is a privately held Italian insurance brokerage firm headquartered in Rome that operates as a wholesale intermediary (grossista) specializing in surety bonds (fideiussioni assicurative). Founded on June 15, 2012, and registered with IVASS (Italy's insurance regulator) under number B000419326, the company intermediates between policyholders and IVASS-authorized insurance companies, offering a comprehensive portfolio of more than 12 specialized bond categories spanning public procurement bid bonds, VAT refund guarantees, construction and 10-year post-delivery policies, customs bonds, gaming industry bonds, immigration visa guarantees, rental surety, public grant advances, and category registry enrollments.

The company's technology stack is relatively traditional: it conducts pre-underwriting risk assessment through an in-house back office and facilitates electronic policy issuance with digital signatures, quoting 24-48 hour turnaround for preliminary estimates. Beyond domestic Italian insurers (national and establishment regime), Elleti Broker holds partnerships with foreign insurance companies operating under the European Economic Area's Freedom to Provide Services (LPS) regime, expanding its guarantor pool. Named partnerships include Coface, HDI, Elite, and Atradius for quarrying activity guarantees, as well as territorial agencies for immigration surety bonds.

Elleti Broker generates revenue through brokerage commissions paid by insurance carriers for placed business, while customers pay usage-based annual premiums ranging from 0.5% to 2% of the guaranteed amount (up to 2-4% for multi-year VAT refund bonds). The firm serves Italian businesses across verticals including construction, transport, waste management, security, agriculture, gaming, and public administration, as well as individuals requiring immigration sponsorship guarantees. Distribution occurs via direct enterprise sales, a network of insurance brokers and agents registered in section E of RUI, and inbound channels through its website, telephone, and WhatsApp. Cumulative scale metrics indicate €724 million in total guaranteed amounts and 1,183 policies issued, though revenue, headcount, and ownership details are not publicly disclosed.

Name

Elleti Broker S.p.a.

Legal name

Elleti Broker S.p.A.

Website

https://elletibroker.com

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

1–10 employees

Short description

Elleti Broker S.p.A. is a Rome-based wholesale insurance broker specializing in Italian surety bonds (fideiussioni), intermediating between policyholders and IVASS-authorized insurers across 12+ specialized bond categories including construction, public procurement, VAT refunds, gaming, and immigration.

Ownership category

akta.pro rank

Product category

Surety Bond Insurance Brokerage

NAICS

Insurance Agencies and Brokerages (52421), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro industry

PRIMARYFSAEADAI

Surety & Bond Brokerage

Financial & Insurance/Financial Advisory, Brokerage & Intermediation/Insurance Brokerage & Risk Advisory

Keywords

• Surety bond brokerage
• Insurance intermediation
• Fideiussione assicurativa
• Cauzioni broker
• Wholesale insurance broker

Headquarters

HQ city

Rome

HQ country

Italy

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Surety bond brokerage commissions: Elleti Broker generates revenue by intermediating surety bonds (fideiussioni assicurative) between policyholders and authorized insurance companies. The company earns commissions from insurance providers for placing business, while customers pay insurance premiums calculated as a percentage of the guaranteed amount.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Elleti Broker S.p.a. is a wholesale insurance broker (grossista) specializing in surety bonds (fideiussioni assicurative) in Italy, registered with IVASS under number B000419326 since 15/06/2012. The company intermediates between policyholders and authorized insurance companies (national, EU, and foreign under LPS regime), performing pre-underwriting risk assessment in its back office and facilitating policy issuance, including in electronic format with digital signatures, with stated turnaround times of 24-48 hours. Its portfolio spans construction bonds, public procurement bid bonds, public grant advance bonds, VAT refund bonds, customs bonds, immigration visa bonds, gaming industry bonds, rental bonds, and category registry enrollment bonds.

Product overview

Elleti Broker S.p.a. is a wholesale insurance broker operating in the Italian surety bond (fideiussione) market, intermediary between clients and authorized insurance companies regulated by IVASS. The company specializes in insurance surety bonds as its core product, offering a comprehensive portfolio of specialized bond types including public contribution advance bonds, VAT refund bonds, category registry enrollment bonds, construction bonds, public procurement bid bonds, customs bonds, foreign entry visas bonds, 10-year post-delivery insurance policies, gaming industry bonds, rental bonds, and other miscellaneous surety categories. The business model centers on pre-underwriting risk assessment and policy issuance facilitation, working with both national and European Economic Area insurance companies under establishment and Freedom to Provide Services (LPS) regimes. Services are delivered through electronic format with digital signatures, with quoted turnaround times of 24-48 hours for standard requests.

Differentiator

Problem solved

Functional benefit

Products and services

• Fideiussione Assicurativa (Insurance Surety Bond) The core insurance surety bond product where an insurance company guarantees the fulfillment of obligations by a contracting party to a beneficiary; Elleti Broker acts as intermediary between clients and IVASS-authorized insurance companies.
• Fideiussione per Contributi Pubblici (Public Grants Surety) Surety bond guaranteeing public grant disbursements for development programs including AGEA agricultural subsidies, POR/FSE funds, and regional innovation grants such as LazioInnova and Fincalabria.
• Fideiussione per Rimborso IVA (VAT Refund Surety) Surety bond enabling businesses to obtain VAT refunds in advance from the Agenzia delle Entrate, where the insurance company guarantees repayment if the refund is deemed illegitimate.
• Fideiussione per Iscrizione Albi di Categoria (Category Registry Surety) Surety bonds required for registration or renewal in professional category registries, including transport companies, armed security firms, and waste management operators.
• Fideiussioni per l'Edilizia (Construction Surety Bonds) Construction sector surety bonds including guarantees for urbanization fees, building costs, advance payments, real estate swaps, 10-year post-delivery policies, and definitive guarantees per schema 1.4.
• Cauzioni Gara d'Appalto (Public Procurement Bid Bonds) Surety bonds for participating in public procurement tenders, including provisional and definitive guarantees, Consip framework agreements, and bid bonds.
• Polizze Doganali (Customs Bonds) Customs surety bonds covering temporary imports, suspended duties, foreign goods in customs warehouses, periodic deferred payments, and extraordinary customs service charges.
• Fideiussioni per Ingresso Stranieri (Foreign Entry Surety) Surety bonds for non-EU citizens entering Italy for tourism, family visits, study, work, or hospitalization, demonstrating financial capacity for subsistence during stay.
• Polizze Decennali Postume (10-Year Post-Delivery Insurance) Mandatory 10-year insurance policy protecting property owners from construction defects, total or partial collapse, as required by D.Lgs. 122/2005.
• Fideiussioni Gaming (Gaming Industry Surety Bonds) Surety bonds for gaming operators including slot halls, bingo, sports betting, online betting, and agreements with VLT and AWP system operators for AAMS compliance.
• Fideiussioni per Affitti (Rental Surety Bonds) Surety bonds guaranteeing landlords against tenant insolvency, replacing traditional security deposits without freezing tenant assets.
• Altre Cauzioni (Other Surety Bonds) Additional surety bond categories including GSE energy management guarantees, quarry extraction guarantees, prize competition guarantees, court/judicial bonds, INPS installment plans, and environmental registry registrations.

Quantifiable outcome

• 24-hour quote turnaround for preliminary estimates

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core and minor.

• Italian insurance companies (Compagnie Assicurative autorizzate IVASS)coreTechnology or IntegrationElleti Broker collaborates with authorized Italian insurance companies for the issuance of surety bonds, leveraging direct mandates and exclusive broker relationships to provide competitive coverage for clients.
• Foreign insurance companies in European Economic Area (LPS)coreTechnology or IntegrationPartnership with foreign insurance companies authorized to operate in Italy under Freedom of Services (LPS - Libera Prestazione di Servizi) regime, expanding access to European insurance markets.
• Insurance agencies for immigration surety bondsminorChannel Partner/ Reseller/ DistributorPartnership with territorial insurance agencies specialized in immigration surety bonds for visa applications, providing tourist visa guarantees for non-EU citizens.

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Marsh: Global insurance broker and risk advisor with a sizable Italian surety practice. Comparable to Elleti because Marsh places large and complex surety bonds for corporate and public-sector clients in Italy, though it operates as a generalist broker across many lines rather than a specialist surety intermediary.
• Willis Towers Watson: Major international insurance broker with construction and surety capabilities in Italy. Comparable to Elleti for large public-procurement and construction surety placements, but operates a global, multi-line platform rather than a focused surety wholesale model.
• Travelers: US insurer with a leading surety bond business that accesses European markets via LPS arrangements. Comparable to Elleti as a surety capacity source in the European/EEA market that Italian intermediaries can leverage, rather than as a direct local Italian broker.
• Generali Group: Italy's largest insurer with a significant surety bond underwriting business alongside distribution. Comparable because Generali both underwrites and intermediates cauzioni in Italy, but it is primarily a carrier rather than a pure intermediary, making it more an upstream partner/competitor than a pure peer to Elleti.
• Zurich Insurance Group: Global insurer with strong surety and construction lines and meaningful Italian footprint. Comparable to Elleti as both a potential carrier partner and a competitor for larger surety placements, particularly in construction and public procurement.
• Howden Group: Specialty insurance broker with growing Italian presence in surety, construction, and credit lines. Comparable as a competitor for mid-market and specialty surety placements, though Howden's Italian surety book is part of a much broader specialty broker portfolio.
• Liberty Mutual Insurance: Major US-headquartered insurer with one of the world's largest surety operations, including European activities. Comparable to Elleti as a surety capacity provider that Italian intermediaries can access via LPS or establishment, and as a competitor for larger cross-border surety placements.
• Aon: Global insurance and reinsurance broker with significant Italian operations spanning surety, construction, and credit-related lines. Directly comparable as a competitor for large surety placements in Italy, though Aon serves a much broader range of risks beyond cauzioni.

Direct peers

• Coface: French-headquartered credit insurer with a surety bond offering and Italian operations. Comparable to Elleti because Coface writes surety in Italy and is already a partner of Elleti's, though Coface's primary business is trade credit insurance rather than cauzioni intermediation.
• Allianz Trade (formerly Euler Hermes): Global leader in trade credit insurance and surety bonds, with deep European and Italian operations. Directly comparable to Elleti as a specialist surety intermediary/underwriter focused on commercial and contract surety, though Allianz Trade is much larger and operates across many geographies rather than solely as a wholesale broker in Italy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/elleti-broker-s-p-a-

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

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 Elleti Broker S.p.a.