The deal will provide the acquired group with ‘scale and even more opportunities’, says chief executive
Broker Ardonagh Specialty has completed its purchase of Oxford Insurance Group, adding an additional $250m (£207m) of gross written premium (GWP) to its business.
Oxford operates across several specialist areas including professional indemnity, property, general liability, marine and energy.
Its businesses include UK-based Lloyd’s broker Oxford Insurance Brokers, James Hampden International and MGB Insurance Brokers, as well as MGA and wholesale businesses, Swiss-based Unis AG and Dubai-based Antarah.
The deal will see 125 staff become part of Ardonagh Specialty.
Providing scale
Randall Goss, Oxford Insurance Group founder and chief executive, said: “I’m incredibly proud of our journey and of all the people who have contributed to this moment.
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“The independent platform Ardonagh has created will give Oxford the scale and even more opportunities to deliver insurance solutions for clients across the globe.”
Ardonagh Specialty chief executive Ant Erotocritou added: “We warmly welcome our new colleagues and clients across the UK, Switzerland, Liechtenstein and Dubai.
“We look forward to collaborating across our teams and specialisms to continue delivering customer-centric solutions to clients and using our scale to negotiate on their behalf.”
- Insurance Times has converted dollar amounts into pounds using an exchange rate of $1.21 = £1, which was correct as of 1 March 2023.
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