HPS and Madison Dearborn purchase another UK insurance broker

Ardonagh owners HPS and Madison Dearborn Partners are acquiring Capita Specialist Insurance Solutions (CSIS), Insurance Times understands.

Bristol-based broker CSIS, which was wholly owned by Capita according to its website, specialises in care, charity and school staff absence insurance.

The acquisition has been cleared by the European Commission.

Prior to this, the joint Ardonagh owners most recently bought Compass in March.

CSIS declined to comment when contacted by Insurance Times.