MDS and HWF collaborate to offer specialized M&A insurance solutions in Spain

MDS Group, an insurance, reinsurance, and risk advisory broker with a presence in Iberia, Latin America, and other international markets, has announced its collaboration with HWF, a specialist broker in transactional risk insurance, in Spain. HWF will launch in Madrid to offer specialized solutions in transactional risks (M&A). Both MDS and HWF are part of Ardonagh Group, one of the world’s top 15 insurance broking groups. 

This initiative is aligned with MDS’s growth strategy in the Spanish market and reinforces its positioning as a trusted partner in insurance solutions for financial risks, incorporating complementary capabilities through its collaboration with HWF. 

In this context, HWF will operate in Spain through a Madrid-based team, enabling the identification of new business opportunities and close coordination with MDS in supporting clients in corporate transactions. 

HWF has long been a trusted advisor to Spain-based clients on strategic M&A transactions. Establishing a local presence allows for deeper relationships, new opportunities, and an even stronger offering for clients across the region. 

This expansion marks an exciting new chapter in the collaboration between HWF and MDS Group. With shared ambitions for growth across the region, the opening of HWF Spain strengthens this partnership further, giving MDS clients direct access to HWF's specialist transactional risk expertise and HWF clients the full breadth of services of the MDS Group. 

The HWF team in Iberia will be led by Ricardo Lecaro, Head of Iberia, and Kai Schmitz, Head of Tax, who bring extensive market experience and will contribute to the development of this business line alongside MDS. HWF has a strong international track record in transactional risks, having participated in more than 6,200 transactions and structured over 2,300 policies. This experience, combined with MDS’s local market knowledge, will enable a coordinated approach tailored to clients’ needs. 

"This project strengthens our ability to offer clients increasingly specialized solutions in the field of transactional risks,” says Álvaro Mengotti, CEO of MDS Spain, who adds, "this initiative is aligned with our growth strategy in Spain and allows us to continue expanding our value proposition in highly complex transactions.” 

Adrian Furlonge, CEO of HWF, comments: "Working closely with MDS in Spain represents an excellent opportunity to bring our capabilities closer to the Iberian market and support our clients in strategic transactions, combining local and international expertise.” 

With this initiative, MDS reinforces its commitment to the Spanish market and continues to advance the development of differentiated solutions in collaboration with other group companies, driving new growth opportunities and value creation.