The Ardonagh Group (Ardonagh), a UK insurance coverage dealer, has introduced the completion of the merger of its enterprise, Atlanta Group, with Markerstudy.
This transfer, first introduced in September 2023, creates a platform within the private strains insurance coverage sector, set to serve tens of millions of shoppers with a wide range of merchandise together with house and motor insurance coverage.
The mixed entity may have a workforce of roughly 7,300 throughout the UK and is anticipated to deal with greater than £3bn in annual GWPs.
Ardonagh didn’t disclose the monetary particulars of the merger.
Atlanta Grouo, with greater than 2,100 workers in 12 areas, manages near £1bn of GWPs for two.6 million prospects.
Its portfolio consists of insurance coverage manufacturers akin to Swinton, Autonet and Carole Nash.
Entry probably the most complete Firm Profiles
in the marketplace, powered by GlobalData. Save hours of analysis. Acquire aggressive edge.
Firm Profile – free
pattern
Thanks!
Your obtain e mail will arrive shortly
We’re assured in regards to the
distinctive
high quality of our Firm Profiles. Nevertheless, we would like you to take advantage of
helpful
choice for your small business, so we provide a free pattern which you could obtain by
submitting the under kind
By GlobalData
Markerstudy, with a presence throughout 19 websites and greater than 5,200 colleagues, reported GWPs of £2bn in 2022 and caters to round six million prospects with a various vary of merchandise.
The merger is anticipated to reinforce the mixed group’s capabilities in pricing, underwriting and distribution, providing an improved proposition to each new and current prospects.
Underneath the phrases of the settlement, Ardonagh will obtain money and a major minority fairness stake within the merged enterprise, together with two seats on the board of administrators.
Atlanta Group founder and Markerstudy Distribution CEO Ian Donaldson stated: “With the formidable expertise and experience of our colleagues targeted towards this new chapter, we stay up for delivering revolutionary options and repair for the eight million-plus prospects now shared throughout our main and specialist manufacturers.”
Ardonagh CEO David Ross stated: “Autonet joined us as a digital van insurance coverage specialist with £130m in premium, 550 folks and distinctive management. It turned Atlanta and now joins Markerstudy, including £1bn of premium throughout a number of product strains, greater than 2,000 colleagues and the identical distinctive management.”
Earlier this month, Ardonagh Italia, a subsidiary of Ardonagh, concluded the acquisitions of two Italian brokers, Mediass and Mansutti.
The acquisition of Mediass was introduced in March 2024, and Mansutti adopted in April.
Mediass, based in 1996, gives numerous insurance coverage companies, whereas Mansutti, established in 1925, specialises in industrial strains with annual GWPs of €45.5m ($48.67m).
