Ardonagh targets Netherlands with double swoop to expand European footprint
The Ardonagh Group has swooped for another Dutch broker to grow its presence and scope in the Netherlands and the wider European market, following the recent purchase of specialist commercial lines insurance broker Klap.
Ardonagh Europe has agreed to acquire high net worth broker Classicus, headquartered in Amsterdam.
Founded in 2004, Classicus provides a range of specialist high net worth products for classic and luxury cars, yachts, art collections together with other specialist high net worth products. Its businesses also include wholesale broker, Classicus Europe and London-based Classicus, which comprises the firm’s non-EU wholesale business, its UK high net worth retail business and UK corporate clients business.
This acquisition follows Ardonagh’s recent purchase of Klap Verzekeringsmakelaar (Klap) an independent, specialist commercial and personal lines broker based in Amsterdam. The expansion of Ardonagh’s footprint in the Netherlands underpins the Group’s international growth strategy, strengthening its proposition in the European high net worth insurance market.
Conor Brennan, CEO Ardonagh Europe said: “Classicus is a highly respected broker and already enjoys a firm relationship with Léons as a member of Brokerslink, the global brokerage company co-founded by Léons Group.
“The synergies between the two entities will make for a highly beneficial partnership, with Classicus continuing to tap into this rich pool of expertise and talent to grow their niche business across European geographies.”
Sunny Leons, CEO of the Léons Group said: “With the acquisition of Classicus, Léons Group continues to position itself as a European growth platform, taking a significant first step towards establishing new geographies, as Classicus marches forward with a seamless fit to expand their service offering to European brokers.”
Bart-Jan Kastrop, the founder and Managing Director of Classicus said: “We are very excited to begin a new chapter for Classicus as we develop our bespoke and niche concept across new territories and partners.
“We strongly believe that Léons, with the capital and resources of Ardonagh Europe behind them, is the right partner for our growth ambition. This new partnership will give us the independence to continue to reinvent our specialist line of business so that we can continue to provide our clients with the very best expertise and products available on the market.”
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