Ardonagh
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Geo Europe CEO Walter Craft will remain with the financial lines business. -
The downstream market is expected to soften in the second half of the year.
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The broker has spent the bulk of his career handling major accounts.
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The broker will become director of marine at the Ardonagh subsidiary.
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Dan Walsh has led Aon Client Treaty for the past six years.
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Capital is looking for opportunities to build international specialty businesses out of EC3.
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The Ardonagh brand hired several casualty brokers from Miller last summer.
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Current Bermuda CEO Chris Bonard will become president of the unit.
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The acquisition brings international M&A opportunities and a pipeline of London wholesale business.
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Paragon co-CEOs James Kalbassi and Tara Falk will become Ardonagh shareholders.
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The buyer intends to fund the transaction with approximately 50% equity and 50% debt.
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