The Ardonagh Group (Ardonagh), a UK insurance broker, has announced the completion of the merger of its business, Atlanta Group, with Markerstudy.
This move, first announced in September 2023, creates a platform in the personal lines insurance sector, set to serve millions of customers with a variety of products including home and motor insurance.
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The combined entity will have a workforce of approximately 7,300 across the UK and is expected to handle more than £3bn in annual GWPs.
Ardonagh did not disclose the financial details of the merger.
Atlanta Grouo, with more than 2,100 employees in 12 locations, manages close to £1bn of GWPs for 2.6 million customers.
Its portfolio includes insurance brands such as Swinton, Autonet and Carole Nash.
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By GlobalDataMarkerstudy, with a presence across 19 sites and more than 5,200 colleagues, reported GWPs of £2bn in 2022 and caters to around six million customers with a diverse range of products.
The merger is expected to enhance the combined group’s capabilities in pricing, underwriting and distribution, offering an improved proposition to both new and existing customers.
Under the terms of the agreement, Ardonagh will receive cash and a significant minority equity stake in the merged business, along with two seats on the board of directors.
Atlanta Group founder and Markerstudy Distribution CEO Ian Donaldson said: “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 eight million-plus customers now shared across our leading and specialist brands.”
Ardonagh CEO David Ross said: “Autonet joined us as a digital van insurance specialist with £130m 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.”
Earlier this month, Ardonagh Italia, a subsidiary of Ardonagh, concluded the acquisitions of two Italian brokers, Mediass and Mansutti.
The acquisition of Mediass was announced in March 2024, and Mansutti followed in April.
Mediass, founded in 1996, provides various insurance services, while Mansutti, established in 1925, specialises in commercial lines with annual GWPs of €45.5m ($48.67m).
