Cascudo Brokers absorbs Gerensis Consultores and concentrates insurance brokerage

Cascudo Brokers Correduría de Seguros S.L. has unanimously approved the merger by absorption of Gerensis Consultores Correduría de Seguros S.L., which is hereby dissolved and transfers its assets as a whole by universal title to the absorbing company. The agreement was adopted at the Extraordinary and Universal General Meeting held on June 30, 2026, and is published in the Official Gazette of the Mercantile Registry (BORME) number 160, dated August 20, 2026, page 5966, with reference BORME-C-2026-4778.

The operation is framed within Royal Decree-Law 5/2023, of June 28, transposing Directive (EU) 2019/2121, of November 27, regarding Structural Modifications of Commercial Companies (LME). It is processed as an operation assimilated to a merger pursuant to Article 57 of the LME, through the unanimous merger agreement procedure regulated in Article 8, based on the common project drafted by the administrators of both companies on June 30, 2026.

Conditions of the agreement

As this is a unanimous agreement, and in accordance with Article 9 of the LME, the structural modification is adopted without the need to publish or deposit the documents required by law, nor to have a report from the administrators on the merger project. The absorbing company is subrogated to all rights and obligations of the absorbed company, in general and without any reservation or limitation.

Rights of shareholders and creditors

Pursuant to Article 10 of the LME, the right of the shareholders and creditors of both companies to obtain the full text of the adopted agreement and the merger balance sheet is expressly stated. The creditors of each of the companies may oppose the merger within a period of one month from the date of the last announcement of the agreement, as provided for in Article 13 of the LME.

• Absorbing company: Cascudo Brokers Correduría de Seguros S.L.
• Absorbed company: Gerensis Consultores Correduría de Seguros S.L.
• Date of agreement: June 30, 2026
• Creditor opposition period: one month from the last announcement
• Signature: José Manuel Cascudo Fontao, joint administrator, in Narón

Impact for readers

The concentration strengthens the position of Cascudo Brokers in the insurance brokerage business by integrating the portfolio and assets of Gerensis Consultores. Clients and creditors of both companies should be mindful of the one-month period to exercise their right of opposition and may request the full text of the agreement and the merger balance sheet in accordance with the structural modification regulations.

Source: Official Gazette of the Mercantile Registry (BORME), no. 160, August 20, 2026, Second Section – Announcements and legal notices, p. 5966 (official reference: BORME-C-2026-4778).