Ardonagh Advisory, The Ardonagh Group's SME broking platform, has completed the acquisition of the specialist distribution business, Hoxton Risk Services Ltd (Hoxton Risk Services).
The acquisition is a strategic move to enhance Ardonagh's presence in the mid and high-net-worth market.
Established in 2020 by HNW underwriting specialist Justin Gott, Hoxton Risk Services specialises in providing protection for private clients, offering coverage for cars, houses, travel, and investment properties. The business operates exclusively with brokers, utilising an innovative digital trading platform and is supported by A-rated insurer Hiscox.
The acquisition represents Ardonagh Advisory's latest commitment to its private clients proposition. As part of the deal, Hoxton Risk Services managing director Justin Gott will continue to lead the business, collaborating with Advisory Insurance Brokers Limited CEO Richard Tuplin.
Commenting on the acquisition, Tuplin said Hoxton Risk Services will enhance the company's capabilities to meet the needs of mid and high-net-worth private clients.
He added: “Justin has extensive knowledge and understanding of how to succeed in this sector and the experience he brings will add to, and complement, our private clients senior leadership team, and I very much look forward to welcoming him to the business.”
Gott added that the deal will enable Hoxton Risk Services to access significant growth opportunities.
“As businesses, we are highly culturally aligned with the mutual goal of providing the very best insurance solutions for mid- and high-net-worth customers,” he said. “Our broker partners will be able to access the same great products and services with the same ease as they do already, and in the longer term can look forward to further product and technology developments that will benefit both their clients and their own broking businesses.”
The deal follows Ardonagh Advisory's recent acquisition of Westfield Brokers Ltd (Westfield Brokers).
