Ardonagh Group
The Ardonagh Group claims to be one of the world’s largest independent insurance distribution platforms and a top 20 global broker.
It has a combined workforce of over 10,000 people and a network spanning 200+ locations in more than 30 countries.
Across its portfolio, Ardonagh offers a diversified range of insurance-related products and services across the full insurance value chain globally. From complex multinational corporations to individuals purchasing personal insurance policies.
In the UK the Ardonagh Advisory platform includes Towergate which employs 2,000 people providing insurance products to small and medium sized enterprises (SMEs), corporate clients and specialist personal cover; and Bravo Networks which houses two of the largest networks of independent regional brokers in the UK: Broker Network and Compass.
The Ardonagh Group reported pro forma income for 2023 of $1.9bn (£1.45bn) and pro forma adjusted EBITDA of $695m, including completed and committed acquisitions to 20 March 2024. Ardonagh’s shareholders are Madison Dearborn Partners, LLC (MDP) and HPS Investment Partners (HPS).
Ardonagh boosts adjusted Ebitda by a third to $649.6m
Income at Ardonagh rose 29.1% last year to $1.99bn (£1.59bn) on the back of organic growth and 67 acquisitions.
Markerstudy gets CMA greenlight to complete £1.2bn Atlanta deal
The Competition & Markets Authority has cleared Markerstudy to pursue its proposed £1.2bn acquisition of Ardonagh-owned personal lines broking arm Atlanta.
PSC confirms takeover talks as consolidators tipped to swoop
Australia-headquartered PSC Insurance, a Top 100 broker in the UK, has confirmed being approached by multiple parties and in talks regarding a possible buyout.
IWD 2024: Geo’s Jaime Swindle on coaching and mentoring
For International Women’s Day, Insurance Age discussed with Geo Underwriting leader Jaime Swindle how women should embrace their different approach to their male colleagues.
Ardonagh completes more than $5bn refinance
Ardonagh has completed a refinancing process switching over $5bn of debt (£3.9bn) to better terms.
Bravo Networks’ SME e-trade platform goes live
Bravo Networks has launched Bravo Digital Trader, with Zurich writing the first policy.
Phil Bayles on the etrading and data future for Bravo Networks
Bravo Networks’ delayed Bravo Digital Trader will go live in coming weeks as Ardonagh leader Phil Bayles hailed an “unbelievable asset”, Insurance Age can reveal.
Ardonagh Advisory targeting deal a month in 2024
Ardonagh Advisory is expecting to match its seven deals in 2023 in just the first half of this year, according to chief commercial officer Phil Bayles.
Ardonagh in $2bn bond deal – Bloomberg
Ardonagh is launching a near-$2bn (£1.59bn) bond sale in a process led by Morgan Stanley and Goldman Sachs, according to Bloomberg.
Ardonagh Advisory boosts Scottish presence
Ardonagh Advisory has purchased Glasgow-based Solutions Healthcare, a whole-of-market healthcare insurance broker.
Interactive insurance broker UK M&A Map 2024
In 2023, Insurance Age reported on 114 UK broker deals with Brown & Brown Europe leading the way with 21.
CMA launches investigation into Markerstudy acquisition of Atlanta
The Competition & Markets Authority has launched an investigation into the acquisition of Ardonagh-owned Atlanta by Markerstudy.
Ardonagh strikes deal to sell Robus to Strategic Risk Solutions
Ardonagh has agreed to sell captive and insurance management group Robus to insurance company manager Strategic Risk Solutions.
Ardonagh-owned Price Forbes launches real estate and legal indemnity practice
Price Forbes, part of Ardonagh Specialty, has launched a real estate and legal indemnity practice led by managing director of real estate Mark Manwaring.
Ardonagh kicks off 2024 with HNW deal
Ardonagh Advisory has bought private clients specialist distribution business Hoxton Risk Services in its first deal of the year, Insurance Age can reveal.
Ex-Towergate boss Joe Thelwell joins Aon
Aon has appointed former Towergate Insurance Brokers CEO, Joe Thelwell, as UK head of SME.
Review of the Year 2023: Markerstudy’s Gary Humphreys
Markerstudy group chief underwriting officer Gary Humphreys bigs-up the acquisition of Atlanta Group, and admits he did not anticipate Adam Winslow swapping Aviva for Direct Line Group.
People Moves: 11 – 15 December 2023
Follow the latest insurance personnel moves.
Ardonagh notches up seventh broker buy of 2023
Ardonagh Advisory has announced plans to acquire Westfield Brokers, its seventh broking buy of 2023.
Ardonagh buys RiskSTOP Group
Ardonagh Advisory has purchased RiskSTOP Group, a provider of risk management surveys and ancillary services to the UK insurer and broking communities.
Ardonagh Specialty CEO joins Brokerslink board
Brokerslink has announced Antony Erotocritou as a new board director, representing Ardonagh Specialty.
Commercial combined rate rises slow down in Q3, according to Acturis
After almost two complete years where each quarter saw a positive movement of at least 5.0%, growth in average commercial combined premiums dropped to 4.0% in the third quarter of 2023, according to the latest Acturis Commercial Lines Index.
Ardonagh builds out in Europe with Swiss deal
Ardonagh has signed up to buy Assepro, describing it as the largest independent commercial broker for SMEs in Switzerland.
Ardonagh, Aston Lark, Marsh and WTW staff among those chosen for CII New Gen broking group
The Chartered Insurance Institute has announced the 2023/24 broking group cohort of the New Generation talent programme.