AJ Gallagher
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RFIB chairman asked to “destroy” confidential data passed to him by Alesco employee.
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The £625,000 loan was “one of the most irregular things I ever heard of”, AJG’s Matson tells a court. -
There is a very good reason why business people rarely go to trial on matters involving staff.
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In the second day of AJG’s suit against Ardonagh, the defendant said there was nothing untoward about Peter Burton’s acceptance of a £625,000 loan.
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The price equates to an Ebitda multiple of about 13x, based on the adjusted figure used during the sale process.
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The case is the second round of a bitter legal battle between the two firms.
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The internal communications form part of the disclosure phase of a poaching suit filed by the US broker against Ardonagh entities.
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The big three brokers expect group organic revenue growth in the mid-single digits for 2019.
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JLT Re’s Hart will lead the new unit.
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The buyer pays a price understood to be in the region of £250mn for the UK broker.
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Gallagher and Aon among firms squaring off with PE houses KKR and Warburg Pincus.
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AJG invests in the country’s third-largest independent broker.
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