Ardonagh Group Set to Secure $2.5 Billion in Investment for Expansion
According to reports, the Ardonagh Group is on the verge of securing approximately $2.5 billion in investment. Bloomberg, citing sources familiar with the situation, stated that the London-based insurance broker anticipates completing the capital raise this summer, with the process being oversubscribed.
The funds, according to the sources, will be allocated to growth initiatives, including possible acquisitions.
This fundraising effort follows Stone Point Capital’s December agreement to invest in Ardonagh, a deal that valued the company at about $14 billion. A spokesperson for Ardonagh, a company primarily owned by Madison Dearborn Partners, declined to comment, as reported by Bloomberg.
A Significant Transformation
Ardonagh’s expansion marks a considerable shift from its origins as Towergate. Initially, Towergate was an insurance broker that was taken over by creditor HPS Investment Partners. This takeover occurred after the company faced financial difficulties related to debt-funded acquisitions. In 2017, Towergate merged with three additional insurance and services businesses, forming Ardonagh.
With backing from Madison Dearborn Partners and, subsequently, the Abu Dhabi Investment Authority, the firm has grown considerably under CEO David Ross. Ardonagh has expanded its presence through acquisitions in markets like Brazil, Spain, and Italy.
Last year, Ardonagh purchased Australia’s PSC Insurance Group for an implicit equity value of A$2.3 billion (approximately $1.5 billion), taking the company private and integrating it with its Envest business.
Deals to Bolster Market Position
Ardonagh has been pursuing multiple strategic initiatives to strengthen its market position. In January 2025, Ardonagh’s subsidiary, Arachas Corporate Brokers, acquired Insight Insurance Brokers, based in Cork, Ireland.
In February, the company refinanced $1.2 billion of its debt via a syndicated loan arrangement managed by Morgan Stanley, Bank of America, and JPMorgan. This shift enabled the company to lower borrowing costs by transitioning from private credit to the syndicated loan market.
Earlier this month, Ardonagh Advisory Broking Holdings acquired Anderson & Co (Holdings) Limited and its subsidiary to expand its presence in the northern UK.
