Ardonagh completes major $2.5bn equity investment

Ardonagh has announced the completion of a £1.84bn ($2.5bn) equity investment led by US-based private equity firm Stone Point Capital.

The investment, which values the broker at £10.2bn ($14bn), sees Stone Point become a significant shareholder in Ardonagh, alongside MDP, HPS and other large global institutions.

This includes a wholly owned subsidiary of the Abu Dhabi Investment Authority.

Ardonagh said that with the additional investment and support, it remains “well placed to capture numerous growth opportunities in the global P&C insurance market through its platform of businesses, which each have a strong regional in-market presence”.

David Ross, chief executive at Ardonagh, said: “Stone Point’s investment and the success of the co-investment process stand together as a resounding endorsement of Ardonagh. Amid a backdrop of global economic uncertainty, our unique proposition, track record and global platform attracted world-class investors who share our vision.

“We are proud to welcome Stone Point into the fold in this next chapter alongside long-term partners, whose support has been invaluable in our journey to becoming a $14bn company.

“With such strong financial backing, Ardonagh has unparalleled empowerment to capitalise on future growth opportunities and deliver value to our clients, investors and people.”

Big deals

The investment comes following a year of major deals for Ardonagh.

For example, in October 2024, it completed its A$2.3bn acquisition of PSC in Australia.

The broker said PSC’s brands, including Paragon and Carrolls, would improve its UK wholesale and retail broking position.

Meanwhile, in June 2024, the broker completed the merger of its personal lines business, Atlanta, into Markerstudy.

Jim Carey, co-chief executive at Stone Point, said: “Ardonagh has distinguished itself as a leading platform in the global insurance distribution industry and we believe that the company is well-positioned for continued growth.”