Ardonagh Group swoops in for Swinton

David Ross

The Ardonagh Group has struck up a deal with Covéa to acquire Swinton for £165m.

The acquisition is subject to regulatory approval.

Ardonagh Group CEO David Ross, pictured, said: “We are delighted to be welcoming Swinton into the Ardonagh group of companies; a personal lines household name steeped in heritage and another best in class brand which will be the perfect addition to our portfolio.

“The opportunity to share expertise in the development of our digital platforms to accelerate the scale and scope of our offerings is clear to see. Swinton is a hugely complementary, highly accretive acquisition, enabling us to occupy a significant space in personal lines broking.”

In the two years leading up to the deal, personal lines broker Swinton has undergone a period of strategic transformation, which has seen it slice its branch numbers to 59.

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