Praise for Ardonagh’s Broker Network move but Fitch downgrades
News Analysis: Experts say the deal to buy Bravo Group and Irish business Arachas signals how far the company has come since David Ross took the helm at flailing Towergate in 2015.
The market has responded positively to the deal which sees Broker Network-owner Bravo Group officially brought back into the Ardonagh Group fold after Towergate offloaded it in 2016.
The move, according to market commentators, takes Ardonagh the next step in its journey to rise from the almost ashes of Towergate.
“It is formalising the structure and becoming very large and powerful,” remarked Aston Lark group CEO, Peter Blanc.
He praised Ethos as a fantastic business and said Ardonagh would
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