The Ardonagh Group, one of the world’s premier independent insurance broking platforms, has entered into a definitive agreement to acquire all issued ordinary shares of PSC Insurance Group Limited (ASX:PSI) for A$6.19 per share. This acquisition, valued at an implied equity value of A$2.256 billion and an enterprise value of A$2.429 billion, marks a significant […]
AccuRisk has acquired Matrix Group Benefits, a managing general underwriter (MGU) based in Portland, Maine for an undisclosed price. Established in 2001, Matrix Group Benefits is engaged in managing the risks related to partially self-funded benefit plans and medical stop-loss coverage. The MGU’s team of 12 will be added into the staff of AccuRisk Solutions […]
BGC Partners, a US-based brokerage and financial technology company, has agreed to divest its insurance brokerage business to The Ardonagh Group, a UK-based insurance distribution platform, for $500 million in cash. The insurance brokerage business had contributed revenue of nearly $191 million to BGC Partners during the 12-month period ending 31 March 2021. It comprises […]
The Ardonagh Group, a UK-based insurance broker, has acquired Thames Underwriting, an Essex-based specialist managing general agent (MGA) which offers insurance solutions to brokers in the construction, leisure, and commercial sectors. Financial terms of the deal were not disclosed. Headquartered in Leigh-on-Sea, Thames Underwriting is said to operate various delegated underwriting authorities on the behalf […]
Ardonagh acquisition of Swinton : The Ardonagh Group, the Jersey-incorporated owner of Autonet and Towergate, has signed a deal of around £165 million to acquire Swinton Group, the UK personal lines insurance broking business of the French mutual insurance company Covea Group. Swinton provides a variety of insurance products ranging from car to home, commercial […]