Reinsurance News
The Ardonagh Group
Ardonagh sees H121 income rise 33.4% to £433mn
19th August 2021
The Ardonagh Group has reported a 33.4% rise in income to £443.2 million for the first half of 2021, and an adjusted EBITDA increase of 53.4% to £153.3 million. Year-to-Date the broker also shouldered £279.9 million in operating costs, a 24.5% increase from the prior year period. Results were said to be ... Read the full article
Ardonagh Europe launches in Dublin
26th July 2021
UK intermediary Ardonagh Group has announced the establishment of its new Dublin-based arm, Ardonagh Europe, as the firm looks to take its buy-and-build model to the continent. The new division will form part of the Ardonagh International segment and will operate alongside Ardonagh Global Partners, which launched back in April ... Read the full article
Ardonagh Group hires Neil Higgins to lead fac reinsurance at Inver Re
19th July 2021
The Ardonagh Group has named Neil Higgins, previously of Miller, as Head of Facultative Reinsurance at Inver Re, its recently launched reinsurance brokerage. In his new role, Higgins takes on oversight of the creation of a client centric, strategic, flexible and market-neutral approach to facultative reinsurance solutions. He joins Inver Re from ... Read the full article
Ardonagh launches reinsurance broker Inver Re
30th June 2021
The Ardonagh Group is set to launch a new reinsurance broker with ambitions to become a top five global player, called Inver Reinsurance Brokers Limited. The new brokerage aims to leverage the scale, resources and reach of its parent, attract and empower the best talent in the industry and become a ... Read the full article
Ardonagh Group acquires Australian intermediary network Resilium
16th February 2021
The Ardonagh Group has announced the acquisition of Resilium, the largest independently owned intermediary network in Australia. Resilium will continue to be led by Managing Director Adrian Kitchin, who will be joined on the board by Paul Lynam in the newly created role of Chairman. Lynam has 30 years’ experience in the insurance ... Read the full article
Ardonagh unveils NA Reinsurance team led by ex-RFIB CEO Foden-Pattinson
7th January 2021
Ardonagh Specialty, the holding company and growth platform for The Ardonagh Group's portfolio of specialist, reinsurance and wholesale broking brands, has announced the appointment of a North America Reinsurance team. The new team is set to operate via Equinox (Re)insurance Intermediaries which is licensed in Connecticut, and will be led by ... Read the full article
Ardonagh Group plans takeover of Thames Underwriting
19th August 2020
The Ardonagh Group has announced that it plans to acquire Thames Underwriting, a specialist MGA that provides insurance solutions to brokers across the Construction, Leisure and Commercial sectors. Following the takeover, Thames will join Ardonagh’s suite of MGA brands and will operate within Geo Specialty Group Holdings Limited. Thames is headquartered in ... Read the full article
The Ardonagh Group secures £1.875bn commitment led by Ares
23rd June 2020
Ares Management Corporation, a leading global alternative investment manager, is serving as the lead arranger for a £1.875 billion financing commitment to The Ardonagh Group, the largest independent insurance broker in the UK. The Ardonagh Group was established in 2017 and expanded significantly the following year through numerous acquisitions. The company ... Read the full article
Madison Dearborn & HPS to increase shareholding in Ardonagh
22nd May 2019
Madison Dearborn Partners and HPS Investment Partners have agreed to increase their stake in UK broker The Ardonagh Group, acquiring a total of £92 million of shares. The shares, which were acquired from existing institutional and other minority shareholders, were bought for a price of £1.175 per share, which implies a ... Read the full article
Ardonagh Group acquires UK broker Swinton for £165mn
3rd January 2019
The Ardonagh Group has completed its planned £165 million acquisition of UK personal lines broker Swinton Group Limited from Covéa Group. Ardonagh revealed that it has now received regulatory approval for the deal, which it originally announced in September 2018. The broker funded the acquisition with committed financing from its existing bank ... Read the full article
Arch completes acquisition of Ardonagh’s UK commercial lines business
2nd January 2019
Arch Insurance Europe has completed its' acquisition of the UK commercial lines business owned by The Ardonagh Group, and part of its Geo Underwriting operating segment. The acquired business generated more than £150 million of Gross Written Premium in 2017 and will become the newly-formed Arch UK Regional Division, focused on ... Read the full article
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