Markerstudy and Atlanta mega-merger completes

The Ardonagh Group has confirmed that it has completed the merger of its broking business Atlanta Group with Markerstudy to create a personal lines platform.

The acquisition was first announced on 15 September 2023 and was funded by an investment led by Pollen Street Capital and Bain Capital Special Situations.

It received regulatory approval from the Competition and Markets Authority (CMA) back in March 2024.

Commenting on the completion, Atlanta Group founder and chief executive of Markerstudy Distribution, Ian Donaldson, said: “I am hugely energised to start our journey to create a major new player in the UK insurance landscape.

“With the formidable talent and expertise of our colleagues focused toward this new chapter, we look forward to delivering innovative solutions and service for the 8m plus customers now shared across our leading and specialist brands.”

David Ross, group chief executive at Ardonagh, added: “We’re proud to have supported Ian and his team to reach this milestone.

“Autonet joined us as a digital van insurance specialist with £130 million in premium, 550 people and exceptional leadership.

“It became Atlanta and now joins Markerstudy, adding £1bn of premium across several product lines, more than 2,000 colleagues and the same exceptional leadership.

“We’re delighted to remain part of the journey as a shareholder and to support Markerstudy’s growth in this new chapter.”

Merger

The combined business will be known as Markerstudy and provide multiple insurance products, including home and motor insurance, and will employ around 7,000 people across the UK.

As part of the deal, Ardonagh will receive a combination of cash and a minority equity stake in the combined business.

Meanwhile, a party related to Ardonagh will retain a substantial minority equity stake in the combined business.