Brokerslink has announced Antony Erotocritou as a new board director, representing Ardonagh Specialty.
After almost two complete years where each quarter saw a positive movement of at least 5.0%, growth in average commercial combined premiums dropped to 4.0% in the third quarter of 2023, according to the latest Acturis Commercial Lines Index.
Ardonagh has signed up to buy Assepro, describing it as the largest independent commercial broker for SMEs in Switzerland.
The Chartered Insurance Institute has announced the 2023/24 broking group cohort of the New Generation talent programme.
The hottest stories from 1 to 30 September.
Aon - Ardonagh Group
The failure of Vesttoo in the US has only increased scrutiny on fronters in the UK. But as Saxon East discovers the emergence of Bridgehaven and continued growth of the MGAs, mean that they still have a potentially bright future.
An ongoing feature of the London market, there are signs team lifts and hires might soon be on the rise in the UK retail space too, writes Saxon East.
All the latest key personnel moves across the insurance market.
The hottest stories from 1 to 31 August.
Ian Donaldson, Ardonagh Retail CEO and inbound Markerstudy Retail CEO, has hailed the proposed merger as being able to boost growth, product footprint and acquisitions but declined to be drawn on any interest in RSA’s personal lines business.
Jonathan Swift looks at Ardonagh’s recent growth, and suspects that a larger percentage of the £820m windfall from the Atlanta sale is going to be spent overseas rather than at home.
Markerstudy is only £301m of gross written premium away from potentially overtaking Admiral as the UK’s largest personal lines player after the £1.2bn Atlanta deal last week, according to its CEO Kevin Spencer.
Markerstudy has today confirmed plans to merge with Ardonagh’s personal lines broking business Atlanta Group, in a deal that creates a business that transacts £3bn of GWP annually and employs 7300 people.
Ardonagh Advisory has completed its deal to acquire high net worth broker Stanhope Cooper, and MGA Renovation Underwriting, following an earlier agreement to acquire a majority shareholding in the businesses.
Mark Mugge has left motor specialist broker Lucida Group to be chief financial officer of managing general agent Optio Group.
Ardonagh’s UK Commercial MGA CEO Jaime Swindle is targeting doubling the size of the business in the next three years taking it into the region of £500m gross written premium.
Former director of regional brokers, strategy and propositions at Aviva, Karen Jackman, has joined Ardonagh’s UK commercial MGA as sales director, Insurance Age can reveal.
The CEO of fronting start-up Bridgehaven Insurance, Paul Jewell, says his team has the appetite to write a wide range of commercial specialty business for managing general agents in the UK.
Ardonagh Advisory has bought Sorvio Insurance Brokers, a commercial broker servicing clients in the South West of England.
Aon has named Graeme MacMillan as chief broking officer for Commercial Risk Solutions in the UK, starting in the newly created role on 1 November.
Managing general agent Mercia Underwriting says it has bolstered the team after a number of staff resigned from positions.
Ian Barclay, managing director of Geo Agriculture, has left Ardonagh.
As UK broker M&A targets become scarcer, smaller players are bound to follow the major consolidators into Europe argues Greg Cant, UK Financial Services Partner at Clearwater International.