Ardonagh Specialty, the holding company and growth platform for The Ardonagh Group’s portfolio of specialist, reinsurance and wholesale broking brands, has partnered with Beazley for a cross class follow capacity solution that will exclusively benefit Price Forbes clients across multiple classes.
The arrangement will see the Beazley Smart Tracker follow pre-approved Lloyd’s leaders across placements in Cargo, Specie, Terrorism, Financial Products, Healthcare and Marine.
The line size is pre-determined across the portfolio and offers clients certainty of capacity in continuing challenging market conditions.
The in-scope client portfolio across these lines is around $350 million and represents the first phase of delivery of meaningful dedicated follow capacity through Ardonagh Portfolio Solutions.
The Portfolio Solution will be managed within Equinox, part of Price Forbes.
The arrangement will be fully-digitally integrated into internal systems, utilising in house developed EDGE technology, to ensure ease of capacity deployment and constant accessibility for clients.
Ardonagh Specialty CEO James Masterton said: “This announcement is the culmination of years of investment and development by the Price Forbes and Ardonagh Portfolio Solutions teams into proprietary data analytics and modelling based firmly on optimising placement to delivery with speed and confidence for our clients.
“The ability to aggregate Portfolio data is somewhat of a holy grail for brokers and this deal represents a firm endorsement of the data-powered strategy the team have built. To secure exclusive, dedicated capacity for our clients during this market cycle is an achievement we are very proud of and as we deepen the data set to include Bishopsgate and CLM over time we hope to broaden the offering for our clients.”
Stephen Dando, Ardonagh Head of Placement, commented: “The arrangement with Beazley is a huge endorsement of the modelling and data aggregation work by the APS team to deliver efficient deployment of capital. We look forward to a long and fruitful working relationship with Beazley and to both expanding delivery of follow capital to a broader client base, and also adding additional capacity providers onto the facility.”
Graeme MacMillan, CEO of product and distribution management within the Ardonagh Group added: “As the follow-form marketplace in London matures and evolves, we will continue to invest in data capture, analytics and solution development to harness our portfolios in support of our clients’ placement needs in the Global Specialty arena.
“Today is a significant milestone in Ardonagh’s broader journey to invest in data insight and analytics. With the acquisition of Orange Bear last month we are continually deepening our capabilities to bring better digital insight and products to millions of clients across the Group.”