Caleas

In 1979, Andrea Cardini and Carlo Lecchi founded Caleas Srl, an insurance brokerage based in Milan. The company wasn't a sudden startup idea but the culmination of a multi-generational legacy in the insurance field, with roots stretching back to 1927. Their focus was clear: provide sophisticated insurance brokerage services for corporations and small to medium-sized enterprises (SMEs), handling complex risks while also offering bespoke home and life coverage for private clients. For over four decades, Caleas established itself as a respected firm in the Italian market. The firm built its reputation by catering to the specific needs of a diverse and growing customer base. This long history of service and steady operation set the stage for its next significant chapter. That chapter began in July 2025, when J.C. Flowers & Co., a US-based private investment firm with a dedicated focus on the financial services industry, acquired a controlling stake in Caleas. This move marked the fifth investment by J.C. Flowers in the Italian insurance sector since May 2025, signaling a strategic roll-up in the market. The Caleas management team, including CEO Alessandro Lecchi, retained a minority ownership stake, ensuring continuity. The acquisition provided Caleas with the backing of a major global investor, positioning it for continued growth and capitalizing on new commercial opportunities.