Ardonagh
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Ex-Gallagher executive Jose Antonio Osterling and former JLT VP Luis Felipe Ganoza will head the business, sources said. -
The specialty segment, comprising former Corant brands, increased revenue by 94%.
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On a pro-forma adjusted basis, the intermediary’s Ebitda hit £418.7mn.
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John Thompson is to take up a senior role with Ardonagh Specialty, along with Alesco alumni Mark Watson and Paul Lewis.
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The Piiq CEO takes a key role while Rob Dowman, Russ Nicholls and Richard Peers assume expanded responsibilities.
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David Lawrence ran Endeavour, which formed part of Oneglobal, for 20 years.
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The broking chief has also worked for QBE Europe and Windsor.
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The fine art and specie expert spent 16 years with Willis Re.
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An additional $250mn premium is now in scope for the solution.
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Through the deal, Mphasis will acquire a 51% stake in Mrald, while 49% of the equity will remain with Ardonagh.
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The broker generates around EUR75mn in revenues and has a presence throughout the Portuguese-speaking world and Europe.
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The broker’s $7.5bn refinance highlights the growing strength of challenger broker firms.
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