Ardonagh and Markerstudy’s £1.2bn merger confirmed

Mergers and acquisitions

The Ardonagh Group and Markerstudy Group have agreed a merger between Markerstudy and Atlanta Group, Ardonagh’s personal lines broking business, to create a “major new player” in the UK insurance market.

News of a potential deal were surfaced at the British Insurance Brokers’ Association conference in May, when top executives from both firms were seen at a booth potentially discussing a deal.

Sources

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RSA sells direct PL business to Admiral

RSA and its parent company Intact Financial Corporation has this morning confirmed the sale of its UK personal lines operations to Admiral Group Plc for an initial cash consideration of £82.5m, as reported by Insurance Post earlier this week.

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