Ardonagh sells Direct Group’s claims business for £36m
Figure dependent upon performance.
The Ardonagh Group has agreed to sell Direct Group’s claims business to Davies Group for up to £36m dependent upon performance.
Ardonagh bought Direct Group, then known as Ryan Direct Group, in April last year. At the time the Doncaster-headquartered business was a provider of insurance distribution and of claims handling services.
The possibility of selling the claims business part was first rumoured last month.
Ownership
Direct Group’s 360-strong claims team, led by managing director
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