Reinsurance News
The Ardonagh Group
Ardonagh income jumps by a third in 2021
28th March 2022
Global insurance brokerage and service provider, The Ardonagh Group, has reported income growth of 32.5% over the course of 2021, underpinned by organic growth of 7.3%. The company recorded income of £945.8 million for the full-year period, representing an increase of £232.0 million on the £713.8 million generated in the previous ... Read the full article
The Ardonagh Group & Mphasis expand digital transformation efforts
30th December 2021
Building on their recently established relationship, The Ardonagh Group and Mphasis, an IT solutions provider specialising in cloud and cognitive services, have agreed to setup a shared service entity for middle and back-office functions while applying digital transformation. Last year, Mphasis entered into a deal with the Specialty Broking Segment of ... Read the full article
The Ardonagh Group acquires Portuguese Lloyd’s broker MDS
24th December 2021
The Ardonagh Group is set to acquire Porto, Portugal-based insurance broker and risk management advisor, MDS Group, through a combination of equity and debt via Ardonagh Overseas Investments Ltd and operate as part of Ardonagh Global Partners. As well as its headquarters in Porto, MDS has offices in Brazil, where it ... Read the full article
Ardonagh secures significant new equity investment
15th December 2021
Existing long-term shareholders and some new co-investors have made a significant equity investment into The Ardonagh Group, valuing the company at $7.5 billion. The new equity investment was led by Madison Dearborn Partners, LLC (MDP) and HPS Investment Partners (HPS), alongside new co-investors through accounts managed by MDP and HPS, including ... Read the full article
Andy Higginson named Chairman of Ardonagh Retail
2nd December 2021
Global insurance brokerage and service provider, The Ardonagh Group, has announced the appointment of Andy Higginson as Chairman of Ardonagh Retail, its online consumer business which caters for 3 million customers in the UK and Ireland. Ardonagh Retail trades under a number of brands including Swinton, Carole Nash and Autonet, and ... Read the full article
Ardonagh adds to Geo Underwriting & Bravo Networks leadership
29th November 2021
The Ardonagh Group has announced the addition of Jaime Swindle to the leadership team of its platform, Geo Underwriting, and the appointment of Scott Bennett as Managing Director of Bravo Networks. Swindle will support the development of Geo Underwriting’s UK commercial MGA proposition from 1 December. She will join Derek Coles’ executive ... Read the full article
Ardonagh’s 9M 2021 income rises 30%
18th November 2021
UK-based independent insurance distribution platform and global brokerage, The Ardonagh Group, has reported a 30% rise in income for the first nine months of 2021 to £675.7 million, supported by strong growth in its Specialty and International units. Total income improved markedly from the £519.5 million reported for the same period ... Read the full article
The Ardonagh Group completes takeover of BGC’s Insurance Brokerage unit
1st November 2021
Global brokerage and financial technology company, BGC Partners, Inc., has completed the previously announced sale of its Insurance Brokerage division to The Ardonagh Group. As we wrote in May, BGC's insurance brokerage businesses will now join the Ardonagh Specialty platform. Under the terms of the arrangement, Ardonagh has acquired the equity ... Read the full article
Zurich enters £105mn agreement with AIUA
21st September 2021
Global insurer Zurich has signed a five year agreement with specialist underwriter and Ardonagh subsidiary AIUA, worth an estimated £105 million of gross written premium. Under the agreement Zurich has agreed to provide sole underwriting capacity for a portfolio of farm and agriculture motor. "This deal further strengthens our strategic relationship with ... Read the full article
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
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