Ardonagh expands European footprint with latest acquisition
UK insurance intermediary The Ardonagh Group has expanded its European footprint through the acquisition of an Amsterdam-based insurance brokerage and consultancy firm, a founding member and shareholder of Brokerslink.
Ardonagh Europe, headquartered in Dublin, Ireland, has agreed to acquire, subject to the receipt of unconditional regulatory approvals, Léons Group in the Netherlands.
Founded in 1951 by Max Léons, the firm offers full-service insurance solutions to corporate clients, and specialises in complex cases and international operations.
Léons Group is a founding member and shareholder of Brokerslink, a global network of independent brokers from 125 countries. The company's CEO Sunny Léons was for many years board member and one of the initiators of further consolidation within Brokerslink to build an international broker together with partners.
The broker will continue to operate independently as part of Ardonagh Europe under the direct leadership of Léons and Nico Léons, together with the shareholders and current management team. The Léons family maintains a stake in Léons Group as part of the transaction.
In December 2021, Ardonagh announced the acquisition of MDS Group, an insurance broker and risk management advisor across the Portuguese-speaking world and Europe and founding member and shareholder in Brokerslink.
Conor Brennan (pictured), CEO of Ardonagh Europe, said: “We are excited to welcome Léons to Ardonagh, together building on their Dutch roots and solid reputation in the market to build a portfolio of brands and insurance broker companies that are leaders in their target markets. Sunny and Nico have built a unique business with a special culture that will fit perfectly alongside the portfolio of independent businesses that Ardonagh has acquired over the last number of years. We are very excited by what we can achieve with our new partners in the Netherlands."
Léons added: “The Ardonagh Group and its leadership are a perfect match for our vision and growth ambitions. We are thrilled to be joining forces with a global platform with scale and dynamic culture, that embraces our family-owned concept. With access to Ardonagh's considerable resource and capital, we look forward to joining them as our growth engine together with MDS and other partners, to build on an international group as individual partners.
David Ross, CEO of The Ardonagh Group, commented: “Welcoming this leading independent Dutch firm into the Group continues our meaningful global investment and further strengthens our relationship with members of Brokerslink. With independence core to our own success, this is a testament to the respect we have for this network, and the strength and quality of its membership.”
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