Reinsurance News
The Ardonagh Group
Ardonagh Group expands European footprint through acquisition of Greek-based SRS Group
1st June 2023
The Ardonagh Group, one of the largest independent insurance brokers in the UK, has announced its entry into the Greek market with the majority acquisition of SRS Group of Companies, based in Athens. SRS Group, founded in 2019, operates as a prominent independent wholesale reinsurance broker and a managing general agent ... Read the full article
Ardonagh Europe acquires Dutch broker Classicus
18th April 2023
Ardonagh Europe, part of The Ardonagh Group, has further bolstered its presence in the Netherlands with the acquisition of Dutch broker Classicus. Classicus was founded in 2004 and is headquartered in Amsterdam. The firm provides a range of specialist high net worth products for classic and luxury cars, yachts, art collections, and ... Read the full article
Ardonagh acquires Netherlands insurance firm Klap from Nedvest
11th April 2023
The Ardonagh Group has agreed to acquire Klap Verzekeringsmakelaar, a Netherlands-based specialist commercial lines insurance broker. Founded in 1854, Klap advises SME companies on employee benefits, insurance, and pensions, distributing over €100m of GWP annually. Under the leadership of Jorg Roodbeen, Klap CEO, and with support from Tim Kreté, partner at Nedvest, ... Read the full article
Ardonagh Group sees income swell 30% to $1.5bn in full year results
23rd March 2023
The Ardonagh Group has reported a 30% increase in income to $1.5 billion in its full year results, representing five-fold growth in the five years since its formation. Meanwhile, adjusted EBITDA rose 22% to $476 million from $390 million in 2021. The firm's full year 2022 Pro Forma income stood at $1.8 ... Read the full article
Ardonagh Group completes acquisition of Australian insurance firm Envest
6th February 2023
The Ardonagh Group, one of the largest independent insurance brokers in the UK, has completed the acquisition of Australian insurance firm, Envest. This news came shortly after the firm announced it had agreed to acquire Envest for AUD482 million (£270 million). Managing Director Greg Mullion will continue to lead Envest, which ... Read the full article
Ardonagh Specialty partners with RMS to reinforce U.S. flood and wildfire capabilities
12th December 2022
Ardonagh Specialty, part of the Ardonagh Group, has signed a new agreement with RMS, a Moody’s Analytics company and risk modelling and solutions company, to reinforce its U.S. and wildlife capabilities. Through this partnership, Ardonagh Specialty looks to broaden its adoption of the RMS Intelligent Risk Platform and advance the company's ... Read the full article
The Ardonagh Group selects AutoRek to drive efficiency
9th December 2022
The Ardonagh Group has selected AutoRek, a leading software provider to global financial services firms, as the group is looking to drive efficiency in key back and middle office Insurance Broker Accounting (IBA) processes using intelligent automation technology. According to the annoucement, the initial scope for AutoRek will be to support ... Read the full article
Ardonagh acquires British broker The Professional Indemnity Company
6th December 2022
Ardonagh Advisory Holdings Ltd, a subsidiary of The Ardonagh Group, has acquired The Professional Broking Group Limited which trades as The Professional Indemnity Company. The business will operate as part of the wider Ardonagh Advisory platform which includes regional PI broker Alice Castle and Lloyd’s PI broker Hera Indemnity, as well ... Read the full article
Ardonagh Group acquires Australian insurer Envest for £270m
23rd November 2022
The Ardonagh Group, the largest independent insurance broker in the UK, has announced it has agreed to acquire Australian insurance firm Envest for AUD482 million (£270 million) Brisbane-based Envest includes the broking network Aviso Group, a network of broking offices across five states managing circa AUD405 million in gross written premium, ... Read the full article
Ardonagh Specialty to acquire Oxford Insurance Group
6th October 2022
Ardonagh Specialty, the holding company and growth platform for The Ardonagh Group's portfolio of specialist reinsurance and wholesale broking brands, has announced it has agreed to acquire Lloyd’s broker Oxford Insurance Group. Upon completion, Oxford’s brands and 125 people will become part of $6 billion GWP Ardonagh Specialty. Oxford Insurance Group ... Read the full article
Ardonagh Europe completes acquisition of Léons Group, in the Netherlands
5th October 2022
Ardonagh Europe, a subsidiary of The Ardonagh Group, has completed its acquisition of Léons Group, an independent family-owned insurance brokerage and consultancy firm in the Netherlands. The acquisition was originally announced in July earlier this year. Headquartered in Amsterdam and founded in 1951 by Max Léons, Léons Group specialises in full-service ... Read the full article
Reinsurance market is at an interesting point: Inver Re’s Jonathan Prinn
12th September 2022
With the ongoing war in Ukraine and climate change set to add to inflationary pressure on the economy, at a time when some reinsurers are looking to diversify away from catastrophe business, it’s an interesting time for the marketplace, according to Jonathan Prinn, Chief Executive Officer (CEO), London, Inver Re. As ... Read the full article
Ardonagh Group’s income increases by 37% in H1 22
18th August 2022
The Ardonagh Group has reported a strong performance in income for the first half of 2022, as it increased by 37% (£162.2 million) to £595 million, compared to £433.2 million in the first half of 2021. The company noted that growth was achieved through a combination of acquisitions and organic growth ... Read the full article
Marsh McLennan extends lead as top global broker based on 2021 revenues
6th July 2022
Marsh McLennan remains the world's largest re/insurance broker, in terms of total revenues, which reached a huge $19.8 billion for the firm in 2021, according to our directory of the Top 20 Global Insurance & Reinsurance Brokers, based on research data from A.M. Best. Year-on-year, Marsh McLennan's ... Read the full article
Ardonagh Europe acquires Léons Group
4th July 2022
Ardonagh Europe has acquired Dutch broker firm and consultancy Léons Group. Headquartered in Amsterdam and founded in 1951 by Max Léons, Léons Group specialises in full-service insurance solutions to corporate clients and is renowned for expertise in complex cases and international operations. It will continue to operate independently as part of Ardonagh ... Read the full article
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