Ardonagh makes next M&A move for Lloyd’s multi-line broker with MGA
Ardonagh Specialty, part of UK’s large insurance intermediary Ardonagh Group, has moved to acquire a multi-line Lloyd’s broker Oxford Insurance Group.
Oxford operates across several specialisms including professional indemnity, property, general liability, marine and energy. Its businesses include UK-based Lloyd’s broker Oxford Insurance Brokers, James Hampden International and MGB Insurance Brokers, as well as MGA and Wholesale businesses, Swiss and Liechtenstein UNIS and Dubai-based Antarah. The Group has grown steadily over the last 20 years to place in excess of $250 million of gross written premium each year.
Upon completion, its 125 people and brands will become part of $6 billion GWP Ardonagh Specialty, London’s largest independent broking group.
Ardonagh Specialty has grown by over 100% in the last year following the acquisition and integration of Besso Insurance, Ed Broking and Piiq Risk Partners into the platform in November 2021 and 12% organic growth in the first half of the year.
Ardonagh Specialty CEO Antony Erotocritou (Pictured) said: “In Oxford we have found shared values and true alignment on client service and the role of technology and innovation in delivering for them. We look forward to welcoming our new colleagues and supporting them as part of the largest truly independent broking group.”
Randall Goss, Oxford Insurance Group founder and CEO, said: “I’m incredibly proud of our journey and of all the people who have contributed to this moment. The independent platform Ardonagh has created will give Oxford the scale and even more opportunities to deliver insurance solutions for clients across the globe.”
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