Mergers & acquisitions (M&A)

Ardonagh buys specialist PI broker

Hera Indemnity, which specialises in professional indemnity insurance for solicitors and brings GWP of £41m, will become part of Ardonagh Advisory alongside brands including Ethos Broking, Broker Network, Compass UK and Towergate's regional branch…

PIB sold to Apax funds

The investment is set to “accelerate strategic M&A” for the broker as it is also confirmed that former backer, the Carlyle Group, has retained a minority stake in the business.

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