Ardonagh
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The business is working with Fenchurch on what is likely to be a secondary offering that sees HPS and MDP re-invest. -
The intermediary group’s backers have subscribed to an additional £350mn in equity.
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Rory Best will be also appointed to the board of Ardonagh Community Trust, the group’s charity.
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Ardonagh Europe will be led by Arachas CEO Conor Brennan and pursue acquisitions across the continent.
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The executive has worked at Miller, PWS and Newman, Martin and Buchan.
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The division will employ 60 data scientist and analysis employees to serve the group’s global customer base.
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Corant president Andy Wallin will run the broking segment, while Corant CEO Steve Hearn will lead a unit the includes reinsurance.
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Plus a new London SPAC, CII criticism and all the week’s top news.
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The transaction will create London’s largest independent specialty and wholesale broking business.
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Ardonagh Global Partners was launched last month to invest in insurance distribution firms outside the UK and Europe.
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Phil Bayles will start in the newly created role later this year and will lead placement and strategic growth initiatives.
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The work from home model has proved the sector’s resilience, but there are opportunities to flourish for companies that return to the office.
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