Ardonagh completes a half-billion dollar deal – The Royal Gazette | Bermuda News, Business, Sports, Events, & Community

Log In

Reset Password
BERMUDA | RSS PODCAST

Ardonagh completes a half-billion dollar deal

The Ardonagh Group has completed its $500 million acquisition of the insurance operations of BGC Partners Inc.

Ed Broking, which has an office in Bermuda, Besso Insurance, and Piiq Risk Partners will join Bishopsgate, Compass London Markets, Inver Re and Price Forbes in the Ardonagh Specialty and Capital platform, creating what the company says is the largest independent specialty broker in the London market with offices across the globe.

The company said Ardonagh Specialty and Capital now has a combined $450 million in revenue, placing over $5 billion in gross written premiums on behalf of clients with offices in France, Germany, Turkey, the UAE, Singapore, Malaysia, Hong Kong, China, Australia, South Africa, Chile, Brazil, the United States and Bermuda.

Including the Ardonagh Advisory, Ardonagh Retail and Ardonagh International platforms, the company said, the group now places $13 billion in gross written premiums and has $1.4 billion annual revenue.

The Ardonagh Group: has completed its $500 million acquisition of the insurance operations of BGC Partners Inc

You must be Registered or to post comment or to vote.

Published November 03, 2021 at 7:58 am (Updated November 03, 2021 at 7:58 am)

Ardonagh completes a half-billion dollar deal

What you
Need to
Know
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon