Ardonagh
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Dan Walsh has led Aon Client Treaty for the past six years. -
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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The broker had been vying with Marsh McLennan and AJ Gallagher.
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Pro-forma income hit $1.9bn for the year, alongside pro-forma Ebitda of $695mn.
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The talks are advanced, and the process is likely to move rapidly.
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The broker aimed to secure better terms and borrow more from public lenders.
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The pair hail from Miller and Aon respectively.
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