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.
Need to
Know
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
