The Competition and Markets Authority has today launched an investigation into whether Ardonagh buying Bennetts Motorcycling Services will lead to “substantial lessening of competition”.
Ardonagh has placed $500m (£401m) of senior payment in kind toggle notes.
Broker Network members have given a resounding shrug of indifference to the news that after four years away the network is set to return to Ardonagh’s ownership as it buys up Bravo Group.
The Ardonagh Group has launched a $500m (£401m) notes offering, having agreed the purchase of Bravo Group and Arachas.
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Ardonagh Group has revealed a 1% drop in income year-on-year in April, pointing to a limited impact from the Covid-19 crisis as adjusted Ebitda rose to £20.7m.
Towergate Insurance Brokers has bought the Education Staff Absence insurance book from Integro and snapped up farm insurance specialist Edwards & Swan Insurance Brokers.
RSA has appointed Ardonagh’s Paul Dilley as UK and international chief underwriting officer replacing Adrian Sweeney who is emigrating to New Zealand.
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Former Gallagher and Ardonagh chief financial officer Mark Mugge has taken up the group CFO role at motor specialist Right Choice Insurance Brokers.
The Ardonagh Group reported a loss after tax of £74m and an increase in Ebitda to £115.3m for the year ended 31 December 2019, up from £29.7m in 2018.
Alex Alway has retired from his position as executive director at Ardonagh but remains as executive chairman of both Broker Network and Compass Broker Holdings at Bravo Group.
Some firms are telling their staff to avoid all but essential work travel in the UK due to coronavirus concerns, leading to some insurance event postponements and cancellations, Post has learned.
Personal lines insurance providers are faced with a potentially “lethal” situation if call centre staff cannot go into work en masse due to coronavirus disruption, compliance experts have cautioned. Post asked brokers and insurers how they are preparing…
Ardonagh has acquired agricultural specialist Rural Insurance Group from Primary Group for an undisclosed sum.
The government is likely to make an announcement delaying the much-awaited whiplash claims portal in a matter of days, sources close to the project told Post this week.
Ardonagh Group has agreed to pay Saga £26m for Bennetts Motorcycling Services.
Ardonagh has cut its carrier relationships from 940 to 700 in the past six months with an eventual target of below 200, Paul Dilley, CEO of Geo Underwriting told Post.
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Davies Group has made two senior appointments, as it revealed a jump in Ebitda and revenue for the year ended 30 June 2019.