First insurance ESG Framework unveiled; Ardonagh acquires Usay Gp; James Hallam adds trio of buys; and Right Choice completes Bennetts deal
Post wraps up the major insurance deals, launches, investments and strategic moves of the week not covered elsewhere on www.postonline.co.uk
Ardonagh is taking “remedial action” having been hit by a cyber incident, the group confirmed just after Gallagher also reported being attacked by hackers.
Ardonagh has offered to sell motorcycle specialist Bennetts to address the concerns of the Competition and Markets Authority and avoid a “long, burdensome and expensive phase two enquiry”.
The Competition and Markets Authority has ordered Ardonagh not to integrate with Bennetts, transfer control or stop competing with it as the consolidator completed the deal to buy the motorcycle specialist.
Former CEO of Ageas UK Insurance François-Xavier Boisseau has joined the board of ERS as a non executive director.
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.
More than 200 Ageas staff due to lose their jobs from the closure of the company’s Stoke-on-Trent offices could get to retain their positions after Autonet’s owner Atlanta Group agreed to take over the lease.
Ardonagh will hit pause on further major retail acquisitions as it consolidates its current assets.
Swinton will continue its trajectory toward becoming primarily a digital business, Ardonagh CEO David Ross said, but he refused to call time on the high street broking model.
The Ardonagh Group has reported income growth of 9.1% as both income and profit climb in the first six months of 2018.
Brokers have always innovated to survive and will continue to do so, writes Ian Donaldson, CEO of Autonet and Carole Nash, explaining how technology can help cross-selling.
Ardonagh’s underwriting division will exit unprofitable parts of its personal lines book after it reported a £5.2m loss in the first quarter 2018.
As Igo4 appoints a Google exec to its board, Jonathan Swift looks at whether the recruitment of Mark Bennett marks a "trend" in terms of insurance turning to digital to fill their top tables.
Exclusive: Carole Nash products and marketing director Nick Baker is set to leave the business this summer.
Some of the movers and shakers in the market this month
David Newman is to step down as CEO of Carole Nash following its acquisition by The Ardonagh Group.
Motorcycle broker Carole Nash was a longstanding acquisition target for Ardonagh, the group's CEO said
The Ardonagh Group posted adjusted Ebitda of £ 79.1m in the first nine months of 2017, a 19.7% rise year-on-year.
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Newly formed broking group Ardonagh has acquired Altrincham-based motorcycle broker Carole Nash and Hertfordshire-based broker Mastercover.
Principal Insurance has recruited Penny Wardale to the newly created boardroom position of HR, training and compliance director.
Carole Nash has appointed ex-Google employee Hein Kuiper to the newly created role of chief digital officer.