The Ardonagh Group has announced an equity investment from Stone Point Capital LLC, which valued the group at USUS$14 billion.
The transaction is expected to close by mid-2025, subject to regulatory approvals. Once completed, Stone Point will join Madison Dearborn Partners, HPS Investment Partners, and co-investors, including a subsidiary of the Abu Dhabi Investment Authority and other global institutions, as a significant shareholder in Ardonagh.
This development comes after a year of major milestones for the group, including the refinancing of its debt in March, the merger of its personal lines business into Markerstudy in June, and the take-private of Australia’s PSC Insurance Group in October.
Ardonagh, formed in 2017 through the merger of several UK insurance firms, has expanded its operations significantly. The group now places US$18 billion in premiums annually and operates across the full insurance distribution value chain.
Its global expansion began in 2020 with the acquisition of Arachas, an Irish insurance intermediary, followed by investments in key markets. The US$2.3 billion acquisition of PSC in Australia marked another significant move, merging PSC with Envest to create a leading platform in the Asia-Pacific region.
The UK remains Ardonagh's largest market, with operations under various brands. However, more than 50% of its global property and casualty revenues are now derived from its growing platforms in Europe, APAC, and Latin America.
Ardonagh’s specialty wholesale operations, managed under the Price Forbes brand, became the largest independent broker at Lloyd’s following its 2021 acquisition of BGC’s insurance business. This division, staffed by 2,000 employees, manages US$7 billion in gross written premiums.
David Ross, CEO of Ardonagh, said that Stone Point’s investment signals a new chapter for the group.
“We look ahead to a future backed by partners whose deep understanding of our industry, expertise and networks will be invaluable as we capitalise on Ardonagh’s unique position in the global insurance market to deliver value to our clients, shareholders and people,” Ross said.
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