Five new deals for Ardonagh Group broker
Ardonagh Group-owned private medical insurance broker Chase Templeton has added almost £6.3m in annual premium income through five acquisitions since it became part of the new broking group.
Ardonagh Group was formed in May this year from a five way merger between Towergate, Price Forbes, Autonet, Direct Group and Chase Templeton.
Chase Templeton said that the five deals, which were finalised over a three-week period, affirm its commitment to pursuing a long-term buy-and-build strategy.
The acquisitions are a mix of consultant, broker and independent financial adviser (IFA) books of business.
The largest was the acquisition of St Albans based IFA Feast Noble and Co’s private medical insurance book, which brought in £2m of annual premium income.
The Ardonagh Group broker’s mergers and acquisitions director Jeff Tate said: “We have a proven formula which we have finessed over the years in order to secure maximum value from acquisitions.
“Now, as part of a wider and exceptionally well-resourced group we are perfectly placed to execute further and bigger deals.”