Ardonagh buys Lorega
Ardonagh’s managing general agent segment Geo Underwriting has bought loss recovery insurance MGA and assistance specialist Lorega, Insurance Age can reveal.
It will continue to be led by managing director Neill Johnstone and operate independently under the Lorega brand, Geo confirmed.
The transaction marks an exit for private equity house Alcuin Capital Partners which backed Lorega’s management buy-out in February 2016.
The terms of the deal have not been disclosed but Lorega’s management will keep a shareholding in the new entity.
SpecialismFounded over 35 years ago London-headquartered Lorega has a headcount of 26 people serving clients
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