Impartial insurance coverage dealer Ardonagh Specialty has brokered a deal to purchase Oxford Insurance coverage Group for an undisclosed sum.
Oxford, a Lloyd’s dealer, is engaged in a number of speciality strains of companies, resembling skilled indemnity, property, normal legal responsibility, marine and power.
Its UK-based operations embody Lloyd’s dealer Oxford Insurance coverage Brokers, James Hampden Worldwide and MGB Insurance coverage Brokers.
Oxford additionally operates two managing normal companies, Switzerland-based UNIS and Dubai-based Antarah.
Upon completion, Oxford’s manufacturers, and the staff of 125 will change into a part of Ardonagh Specialty, which is claimed to have generated $6bn in gross written premiums.
Ardonagh Specialty CEO Antony Erotocritou mentioned: “In Oxford we now have discovered shared values and true alignment on consumer service and the function of know-how and innovation in delivering for them.
“We look ahead to welcoming our new colleagues and supporting them as a part of the biggest really unbiased broking group.”
Oxford Insurance coverage Group founder and CEO Randall Goss mentioned: “I’m extremely pleased with our journey and of all of the individuals who have contributed to this second.
“The unbiased platform Ardonagh has created will give Oxford the dimensions and much more alternatives to ship insurance coverage options for shoppers throughout the globe.”
Earlier this week, Ardonagh Europe wrapped up the acquisition of Léons Group, an unbiased insurance coverage middleman and consultancy agency within the Netherlands.
The deal to amass Léons, which provides full-service insurance coverage options to company shoppers, was first introduced in July this 12 months.