Ardonagh Advisory announces purchase of broker

Ardonagh Advisory has agreed to acquire Rowett Insurance Broking.

Based in St Austell and Plymouth, Rowett is a broker that specialises in commercial and personal insurance.

Ardonagh Advisory said that acquiring the firm would help expand its presence in the south west.

Once the deal is complete, Rowett founder and managing director Glyn Rowett will remain at the company along with staff.

Rowett thanked Phil Bayles, chief commercial officer at Ardonagh Advisory, for his support through the acquisition process.

“I have worked with [him] for many years through our Bravo Networks membership,” Rowett added.

“After several discussions across the market, Ardonagh Advisory emerged as the best fit for our business. Through our membership of Bravo Networks, we have long benefited from its strong operational support and access to markets.

”It’s exciting to know our people and clients will now have the full advantage of Ardonagh’s breadth and scale – aligned by a shared focus on achieving the best insurance and risk management advice for our clients.”

Subsidiary business

The St Austell and Plymouth broker also has a subsidiary called AGRI Insurance Facilities, which focuses on wholesale agricultural insurance.

The acquisition will see this business become part of Ardonagh-owned MGA Geo Underwriting.

Jaime Swindle, chief executive at Geo Underwriting, said: “We are delighted to welcome AGRI Facilities to the Geo Underwriting family.

“Its strong client relationships align perfectly with our commitment to delivering tailored solutions across the UK and its experience will further enhance our deep expertise in farming and agricultural insurance.

“Together, we will continue to build on their solid foundation, ensuring the best possible outcomes for our clients and partners.”

Richard Tuplin, chief executive at Advisory Insurance Brokers, added: “Rowett’s longstanding connections with farming communities are a testament to the high calibre people who we look forward to welcoming.”