The Ardonagh Group confirms it has completed its acquisition of specialist commercial lines insurance broker, Klap Verzekeringsmakelaar.
Klap was founded in 1854 and is based in Amsterdam, it advises SME companies on employee benefits, insurance, and pensions. The company distributes over €100m of GWP annually.
Klap is acquired by Ardonagh Europe, through its subsidiary Ardonagh Netherlands BidCo B.V., funded by existing capital.
Ardonagh Europe, which is led by CEO Conor Brennan, landed in the Dutch market in 2022, welcoming the Léons Group as part of its plan to expand into new European markets.
The business will continue to be led by Klap’s current CEO, Jorg Roodbeen, a key player in the Dutch insurance market.
Brennan commented, “Klap is a real specialist and leader in the SME insurance market with a wealth of experience within the team. We are excited to support Klap as they stand alongside our other highly respected and long-standing franchise Léons to extend their insurance excellence even more widely to the European market.”
This transaction will mark an exit for Nedvest, the family office, which backed Klaps’ growth by supporting the overall development of the business, including its successful acquisition strategy.
Roodbeen commented, “We are extremely grateful for the support of Nedvest over the years and are thrilled to be joining Ardonagh Europe, where we will work alongside a host of leading industry brands. I look forward to leveraging the unique collaboration of Klap and Léons as we pursue new and exciting business opportunities.”
Tim Kreté, Partner at Nedvest said, “We wish the management at Klap the very best for the future. Under this team the business has grown and strengthened its formidable position as the Netherlands’ leader in SME insurance. It has been a pleasure to have worked with them and we look forward to seeing the business develop further in the future.”
