Reinsurance News
The Ardonagh Group
Ardonagh Advisory expands into northwest England through SIB Insurance acquisition
9th April 2024
Ardonagh Advisory has expanded its presence in the northwest of England with the recent acquisition of Southport Insurance Brokers Limited (SIB Insurance), an independent commercial broker. Founded in 1965, SIB Insurance is a well-established regional broker offering insurance coverage for a broad range of risks, with strong expertise in the Industrial, ... Read the full article
Ardonagh Advisory completes acquisition of Westfield Insurance
3rd April 2024
Ardonagh Advisory has completed its previously announced acquisition of Westfield Brokers Ltd. Established in 2009 by Managing Director Peter Cowan, Westfield Brokers, which trades under the name of Westfield Insurance, is an independent commercial broker based in Horsham, West Sussex. The firm offers a range of general insurance products, including, fleet, ... Read the full article
The Ardonagh Group sees reported income rise 33.5% in 2023
28th March 2024
Independent insurance broker The Ardonagh Group has seen a rise in full year 2023 reported income when compared with the prior year to $1.6 billion, as reported adjusted EBITDA increased 42.5% to $522 million. For 2023, the broker has reported pro forma income of $1.9 billion and pro forma adjusted EBITDA ... Read the full article
Ardonagh set to acquire Italian broker Mediass
20th March 2024
The Ardonagh Group has agreed to acquire Mediass, an independent Italian insurance broker. Based in Pescara and founded in 1996, Mediass serves more than 120,000 customers, providing insurance broker services to public enterprises, SMEs, large corporates, and retail clients. Mediass will be acquired by Ardonagh Italia, part of Ardonagh Global Partners, and ... Read the full article
Ardonagh Specialty names Patrick Rastiello CEO of NA reinsurance operations
13th February 2024
Ardonagh Specialty has appointed Patrick Rastiello as CEO of its North American reinsurance operations. Rastiello was most recently CEO and President of Accredited, where he reportedly grew the business to over $1.1 billion premium run rate, leading on underwriting and growth decisions. Before Accredited, he spent almost two and a half decades ... Read the full article
Ardonagh Advisory acquires Scottish whole of market healthcare insurance broker
5th February 2024
Ardonagh Advisory has grown its presence in Scotland with the acquisition of Glasgow-based Solutions Healthcare Ltd, a whole of market healthcare insurance broker, serving commercial clients and individuals across the UK. The business offers advice on Private Medical Insurance and employee benefits including, life assurance, critical illness and business protection. It ... Read the full article
Ardonagh’s MDS appoints Álvaro Mengotti as executive board member
29th January 2024
Álvaro Mengotti has joined the MDS Group, part of The Ardonagh Group, as an executive board member, an appointment that will help accelerate the Group’s Spain and Latin American expansion according to the announcement. At MDS Group Mengotti will work closely with Group CEO José Manuel Fonseca, Group CFO José Diogo ... Read the full article
Ardonagh Advisory acquires specialist distribution firm Hoxton Risk Services
10th January 2024
Ardonagh Advisory has acquired specialist distribution business, Hoxton Risk Services Ltd, in a move that will reportedly "bolster Ardonagh’s presence in the mid and high net worth market." Hoxton Risk Services is Ardonagh Advisory’s latest investment in its private clients proposition, having recently acquired specialist high net worth (HNW) broker, Read the full article
Ardonagh Advisory caps successful year with Westfield Insurance acquisition
18th December 2023
In a decisive move concluding a year marked by robust growth, Ardonagh Advisory has confirmed the acquisition of Westfield Brokers Ltd, operating under the name Westfield Insurance. The independent commercial broker, headquartered in Horsham, West Sussex, specialises in a diverse range of general insurance products such as fleet, liability, and contractors. Established ... Read the full article
Ardonagh Advisory acquires RiskSTOP to expand technological capabilities
11th December 2023
Ardonagh Advisory has acquired insurance technology and risk management services company RiskSTOP. Based Poundbury, Dorchester, RiskSTOP was founded in 2000, and provides risk management surveys and ancillary services to the UK insurer and broking communities. Ardonagh explained that RiskSTOP will continue to be led by its current Managing Director, Danny Lillington, alongside ... Read the full article
The Ardonagh Group announces changes to senior management team for 2024
6th December 2023
Independent insurance broker The Ardonagh Group has announced a number of changes to its senior management team for 2024, appointing Conor Brennan as Executive Chairman of Ardonagh International. In his new role, Brennan - who previously led Ardonagh Europe - will be tasked with bringing entities previously part of Ardonagh Europe ... Read the full article
Ardonagh to expand European presence through acquisition of broker, ASSEPRO
31st October 2023
The Ardonagh Group has agreed to acquire ASSEPRO, a large independent commercial broker for small and medium-sized enterprises (SMEs) based in Switzerland, with further operations in both Austria and Liechtenstein. The company offers a wide range of general insurance, accidental & health, and life and pensions products, and is the largest ... Read the full article
Ardonagh’s Atlanta to merge with Markerstudy to create major personal lines platform
15th September 2023
Ardonagh has agreed to a merger between its personal lines broking business Atlanta, and Markerstudy, to create a major new platform transacting over £3bn annual GWP across multiple insurance products in the UK insurance market. The transaction, subject to customary conditions, values Atlanta at £1.2bn and will be funded by a ... Read the full article
Ardonagh’s Price Forbes hires Nick Gavin-Powell as its new Head of Private Clients
7th September 2023
Global specialty insurance broker Price Forbes, part of the Ardonagh Group, has appointed Nick Gavin-Powell as its new Head of Private Clients. In his new role, Gavin-Powell will lead a team of experts that will develop products and solutions for international clients looking to protect high-value personal assets, which includes fine ... Read the full article
Ardonagh Advisory expands portfolio with acquisition of Stanhope Cooper & Renovation Underwriting
4th September 2023
Ardonagh Advisory has officially welcomed high net worth (HNW) broker Stanhope Cooper and Managing General Agent (MGA) Renovation Underwriting into its Group, following a prior agreement to acquire a majority shareholding in these businesses. Under the terms of the agreement, Ardonagh has acquired a shareholding in N&W Investments, which houses Stanhope ... Read the full article