Ardonagh Advisory announces private client specialist as first acquisition of 2024

Ardonagh Advisory has acquired Hoxton Risk Services in a bid to bolster its presence in the mid and high-net-worth (HNW) market, a statement released today (9 January 2024) revealed.

Specialist distribution business Hoxton specialises in protection for private clients, including cover for cars, houses, travel and investment properties.

The business trades solely with brokers and is backed by insurer Hiscox.

Ardonagh Advisory said acquiring the firm would provide additional capabilities to serve private clients.

Justin Gott, Hoxton’s managing director, will continue to lead the business and work with Richard Tuplin, chief executive of Advisory Insurance Brokers – which is part of the Ardonagh Group.

“Hoxton Risk Services offers a neat solution that will bring additional capability to help us meet the needs of mid and HNW private clients,” Tuplin said.

“Justin has extensive knowledge and understanding of how to succeed in this sector and the experience he brings will add to, and complement, our private clients senior leadership team and I very much look forward to welcoming him to the business.”

‘Growth opportunities’

Hoxton Risk Services is Ardonagh Advisory’s latest investment in its private clients proposition, following the addition of specialist HNW broker Stanhope Cooper in September 2023.

Gott said that joining Ardonagh Advisory would provide his firm with “significant growth opportunities”.

“As businesses, we are highly culturally aligned with the mutual goal of providing the very best insurance solutions for mid and HNW customers,” he added.

“Our broker partners will be able to access the same great products and services with the same ease as they do already and in the longer term can look forward to further product and technology developments that will benefit both their clients and their own broking businesses.”