Ardonagh Advisory, part of the Ardonagh Group, has acquired Hoxton Risk Services for an undisclosed sum.
The deal is expected to strengthen Ardonagh’s position in the mid and HNW insurance space.
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Hoxton, established in 2020 by HNW underwriting expert Justin Gott, provides specialised insurance for private clients, including policies for vehicles, residential properties, travel and investment properties.
Backed by Hiscox, an A-rated insurer, the acquired company operates with a broker-only business model and offers a digital trading platform.
Gott, Hoxton’s managing director, will retain leadership of the business, and work alongside Ardonagh Advisory Insurance Brokers CEO Richard Tuplin.
Tuplin said: “Hoxton Risk Services offers a neat solution that will bring additional capability to help us meet the needs of mid and high-net worth private clients.
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By GlobalData“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.”
Gott added: “With Ardonagh’s backing, Hoxton will be able to access significant growth opportunities that will support us in reaching the next level. As businesses we are highly culturally aligned with the mutual goal of providing the very best insurance solutions for mid and high-net worth customers.
“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.”
The acquisition is the latest in a series of investments by Ardonagh Advisory aimed at enhancing its private client offerings.
It follows the recent addition of Stanhope Cooper, another specialist HNW broker.
Ardonagh Advisory’s portfolio already includes a range of brands such as Bravo Networks, Compass UK, Ethos Broking, Footman James, Hera Indemnity, Lorega, Thompson & Bryan, Towergate and Usay Compare.
