Ardonagh now valued at $14bn as it secures major investment

Broker Ardonagh has secured a major investment from funds managed by US-based private equity firm Stone Point Capital.

The deal, which values Ardonagh at $14bn (£11bn), is expected to be completed in mid-2025.

Upon completion, Stone Point will become a significant shareholder in the broker, alongside Madison Dearborn Partners (MDS), HPS Investment Partners and co-investors.

Jim Carey, co-chief executive at Stone Point, said: “We are thrilled to partner with the Ardonagh management team, alongside MDP and HPS.

“We believe that Ardonagh is a leading platform in the global insurance distribution space, with an impressive track record of both organic and inorganic growth.”

’Added support’

The investment comes following a year of major deals for Ardonagh.

For example, in October 2024, it completed its A$2.3bn acquisition of PSC in Australia.

The broker said PSC’s brands, including Paragon and Carrolls, would improve its UK wholesale and retail broking position.

Meanwhile, in June 2024, the broker completed the merger of its personal lines business, Atlanta, into Markerstudy.

With the added support of Stone Point, Ardonagh said it “remains well placed to capture numerous growth opportunities in the global P&C insurance market through its platform of businesses”.

David Ross, chief executive at Ardonagh, added: “Stone Point’s investment in the group marks a new phase in our extraordinary journey over the past few years to become the $14bn (£11bn) business we are today.

“Its support reflects conviction in the strength of Ardonagh’s business and continued momentum and redoubles our commitment to independence in a consolidating market.”