The Ardonagh Group completes acquisition of Dutch insurance firm Klap

The Ardonagh Group confirmed it has completed its acquisition of specialist commercial lines insurance broker, Klap .

Founded in 1854 and based in Amsterdam, Klap advises SME companies on employee benefits, insurance, and pensions, distributing over €100m of GWP annually. The business will continue to be led by Klap’s current CEO, Jorg Roodbeen. The transaction marks an exit for Nedvest, the family office, which backed Klaps’ growth by supporting overall development of the business.

Klap is acquired by Ardonagh Europe, through its subsidiary Ardonagh Netherlands, funded by existing capital.

“Klap is a real specialist and leader in the SME insurance market with a wealth of experience within the team.  We are excited to support Klap as they stand alongside our other highly respected and long-standing franchise Léons to extend their insurance excellence even more widely to the European market.” – Conor Brennan, CEO at Ardonagh Europe.

“We are extremely grateful for the support of Nedvest over the years and are thrilled to be joining Ardonagh Europe, where we will work alongside a host of leading industry brands. I look forward to leveraging the unique collaboration of Klap and Léons as we pursue new and exciting business opportunities.” – Jorg Roodbeen, CEO at Klap.

“We wish the management at Klap the very best for the future. Under this team the business has grown and strengthened its formidable position as the Netherlands’ leader in SME insurance. It has been a pleasure to have worked with them and we look forward to seeing the business develop further in the future.” – Tim Kreté, Partner at Nedvest.