Ardonagh has announced it has completed its acquisition of Classicus, an Amsterdam-based high-net-worth broker. In a press release, the group said the deal is part of its strategy to expand its footprint in the Netherlands and across Europe.
“Classicus is a real specialist and leader in the high-net-worth insurance market with a wealth of experience within the team,” said Conor Brennan, CEO at Ardonagh Europe. “We’re excited about the potential to support their growth with both commercial and consumer clients, by extending their product distribution even more widely across the market.”
Classicus is a provider of a range of specialist high net worth products for yachts, art collections, and classic and luxury cars. Its business include Classicus Europe, a wholesale broker, and Classicus Ltd, which comprises its UK high-net-worth retail business and UK corporate clients business as well as non-EU wholesale business.
Set to operate within Ardonagh Europe, Classicus is complementary to Dutch business, global brokerage Léons, a leading ultra-high-net-worth broker in the Netherlands.
“After years as a valued Brokerslink network affiliate, we are pleased to welcome Classicus as part of The Ardonagh Group and look forward to working with them to harness their unique worth as we continue to grow our local and European offering,” said Sunny Leons, CEO at the Léons Group.
“We remain committed to our existing customers as we enhance our business proposition and are excited to join forces with Léons and the wider Ardonagh Group as we develop our bespoke and niche concept across new territories and partners,” said Bart-Jan Kastrop, founder and managing director of Classicus.
The acquisition comes after the completed transaction to acquire specialist commercial broker Klap Verzekeringsmakelaar, also based in Amsterdam, in June this year. Ardonagh has voiced its goal to build a comprehensive portfolio of businesses aimed at offering “a suite of complementary solutions” to its Dutch customers.
“The synergies between our Dutch entities will trigger a dynamic force, trading from high-net-worth to corporate and SME, as we continue to build our local powerhouse with the best talent and services available,” Brennan said.
