Secose

Name

Secose

Legal name

SECOSE – CORRETORES DE SEGUROS E RESSEGUROS, S.A.

Website

https://secose.pt

Company type

Private

Founded year

1990

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Insurance Brokerage Services

NAICS

Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance Agencies and Brokerages (524210)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Embedded Insurance & Affinity Distribution Platforms (FSAGAGAL)

Keywords

• Insurance brokerage services
• Reinsurance mediation
• Specialty insurance solutions
• Corporate risk advisory
• Claims management services

Headquarters

HQ city

Lisbon

HQ country

Portugal

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Broking Commission: Commission-based revenue from insurance mediation activities in Life and Non-Life branches, as well as reinsurance mediation

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels3 records

Core offering

Secose is an independent insurance and reinsurance brokerage firm that intermediates insurance products across Life and Non-Life branches on behalf of corporate and individual clients. The firm designs and distributes specialized coverage in niches such as architects' professional liability, art collections, sports federations, fleet vehicles, freight transport, and employee health benefits, supplemented by affinity group policy management and end-to-end claims handling.

Product overview

Secose is an independent insurance brokerage firm founded in 1990, offering a comprehensive portfolio of insurance products and services. The company provides specialized niche insurance solutions including Insurance for Architects, Professional Liability, Art Insurance, Sports Insurance, Fleet Management, Freight Transport Insurance, and Health Insurance. The product portfolio also includes Affinity Group Policy Management, Claims Management Services with telephone service platform capabilities, and Corporate and Personal Insurance Solutions. Secose operates as an insurance broker (authorized by ASF) and reinsurance broker, leveraging international partnerships including Lloyd's of London to deliver original and competitive coverage models distinct from the Portuguese market offer. The company focuses on niche market strategy, achieving leadership positions in professional liability, art insurance, and affinity group policy management.

Differentiator

Problem solved

Functional benefit

Products and services

• Insurance for Architects Specialized insurance coverage for architects, including civil liability, trainee architect coverage, occupational accident insurance, all risks, and works and assemblies insurance. Secose has been an institutional partner of the Order of Architects for more than two decades.
• Professional Liability Insurance Professional indemnity insurance protecting businesses against legal charges and indemnities arising from professional errors, omissions, or defamation. Covers both companies and individual professionals.
• Art Insurance Insurance coverage for artworks including permanent collections for museums and institutions, temporary exhibitions, and private collections. One of Secose's main focuses with coverage for prestigious clients.
• Sports Insurance Insurance broker for sports federations and associations, providing coverage design and full support for injured athletes, including claims management and follow-up services.
• Fleet Management Fleet vehicle protection solutions including regular accident reports, claims settlement support, and integration with a telephone service platform for defining logistical procedures regarding claims, maintenance, replacement vehicles, or breakdowns.
• Freight Transport Insurance Goods protection against damage and loss during import/export operations on international or national trips by sea, land, or air, covering multiple subcontractors in the transport chain.
• Health Insurance Health insurance solutions for employees as a benefit, including alternative health services to the NHS, with support for benefit plan management and professional services for attracting and retaining talent.
• Corporate Insurance Solutions Business insurance solutions covering assets, liabilities, employees, and specialized areas including sports associations, professional bodies, and schools.
• Personal Insurance Solutions Personal insurance solutions including personal protection insurance, property insurance, and liability coverage for individuals and families at any stage of life.

Named customers4 records

Segments7 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Three partnerships are on record, tiered core and flagship.

• ATLAS MGAcoreStrategic or Co-development PartnerAgricultural insurance solutions partner. Secose promotes ATLAS MGA's agricultural insurance solutions on their platform, providing customers with specialized coverage for agricultural risks.
• Lloyd's of LondonflagshipStrategic or Co-development PartnerOMC (Open Market Carrier) status with Lloyd's of London allowing access to original and competitive insurance solutions compared to conventional Portuguese market proposals. Provides sophisticated international coverage models.
• International Independent Brokers NetworkcoreStrategic or Co-development PartnerPartnerships with several independent brokers at international level ensuring regular contact with main European markets to present more sophisticated solutions than those in Portuguese market.

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• MDS Group: MDS Group is a leading Iberian insurance and reinsurance broker headquartered in Portugal, offering multi-line brokerage across life and non-life. It is the closest direct comparable to Secose by geography, product breadth, and broker-led distribution model.
• Howden: Howden is a fast-growing independent international insurance broker with specialty practices in art, sport, and professional liability — verticals where Secose also claims niche leadership, making it a strong direct peer.
• Lockton: Lockton is the world's largest independent insurance brokerage, operating partner-led specialty practices comparable to Secose's affinity and niche strategy. Its independent, relationship-led model closely mirrors Secose's GTM despite Lockton's much larger scale.
• Miller Insurance Services: Miller is a specialist London-based insurance and reinsurance broker with strong Lloyd's market access. Its specialty focus and Lloyd's relationships make it comparable to Secose's OMC-driven niche model.
• Jardine Lloyd Thompson Group: JLT was a major independent specialty broker (now part of Marsh) with deep expertise in art, sport, and affinity business — verticals Secose serves. Its pre-acquisition profile closely resembled Secose's niche-affinity positioning at greater scale.

Broad incumbents

• Willis Towers Watson (WTW): WTW is a global advisory, broking, and solutions company with Portuguese operations. It is a broad incumbent competitor in commercial insurance placement and risk advisory.
• Marsh: Marsh is the world's largest insurance broker and risk advisor, with a Portuguese operation. It competes with Secose on commercial and specialty lines but operates as a broad global incumbent rather than a niche-focused independent.
• Aon: Aon is a global insurance brokerage and advisory firm with presence in Portugal. It overlaps with Secose on commercial risk placement but competes across a vastly broader portfolio and at much greater scale.
• Arthur J. Gallagher: Gallagher is a large global insurance brokerage and risk management firm. It overlaps with Secose in commercial and specialty lines, particularly for affinity and professional liability business, but at much greater scale.

Emerging players

• BFL CAN: BFL CAN is a specialty insurance broker focused on complex and niche commercial lines. It shares Secose's appetite for specialized, expertise-driven brokerage rather than commodity placement, though it operates primarily in Canada.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/secose-corretores-de-seguros-s-a

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 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 Secose