Ardonagh completes $2.5 billion equity investment

London-based global insurance broker The Ardonagh Group announced the completion of a $2.5 billion equity investment led by funds managed by Stone Point Capital.

The investment, which valued the group at $14 billion, saw strong demand from co-investors connected to Stone Point, as well as to Madison Dearborn Partners and HPS Investment Partners.

Stone Point is now a significant shareholder in Ardonagh, alongside MDP, HPS, and other large global institutions, including a wholly owned subsidiary of the Abu Dhabi Investment Authority.

Founded in 2017 through the merger of several UK insurance businesses to create a diversified group providing wholesale, retail and specialist insurance solutions, Ardonagh has since transformed into a leading global broking group placing $18 billion of premiums and operating across the entire insurance distribution value chain.

“Stone Point’s investment and the success of the co-investment process stand together as a resounding endorsement of Ardonagh. Amid a backdrop of global economic uncertainty, our unique proposition, track record and global platform attracted world-class investors who share our vision. We are proud to welcome Stone Point into the fold in this next chapter alongside long-term partners whose support has been invaluable in our journey to becoming a $14 billion company. With such strong financial backing, Ardonagh has unparalleled empowerment to capitalise on future growth opportunities and deliver value to our clients, investors and people.” – David Ross, CEO of The Ardonagh Group.

“We are excited to partner with Ardonagh, as well as with MDP, HPS and ADIA. Ardonagh has distinguished itself as a leading platform in the global insurance distribution industry, and we believe that the company is well-positioned for continued growth.” – Jim Carey, Co-CEO of Stone Point.