Towergate holding group rebrands as Ardonagh Group

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HPS Investment Partners (HPS) and Madison Dearborn Partners (MDP) have renamed the Towergate holding group to Ardonagh Group. The group, previously known as KIRS Group, was created in May this year when HPS and MDP brought together its UK general insurance businesses, including Towergate, Autonet, Chase Templeton, Direct Group and Price Forbes. At that time it stated that the group was expected to generate £2.8bn of gross written premium and an annual income of £500m. In June the group comple