Ardonagh Group Nears $2.5 Billion Investment
Ardonagh Group is on the verge of securing up to $2.5 billion from investors, according to sources cited by Bloomberg. The funding is earmarked to bolster the London-based insurance broker’s expansion plans, including potential acquisitions.
Sources familiar with the situation indicate the capital raise is expected to conclude this summer, with strong investor interest. The fundraising follows Stone Point Capital’s December agreement to invest in Ardonagh, which valued the company at approximately $14 billion.
A spokesperson for Ardonagh, which is primarily owned by Madison Dearborn Partners, declined to comment.
A Transformation in Progress
Ardonagh’s current trajectory marks a significant shift from its origins as Towergate, an insurance broker. Towergate was taken over by creditor HPS Investment Partners following financial challenges linked to debt-funded acquisitions. In 2017, Towergate merged with three other insurance and services businesses, forming Ardonagh.
Under the leadership of CEO David Ross, and with backing from Madison Dearborn Partners and later the Abu Dhabi Investment Authority, the firm has experienced substantial growth. Ardonagh has strategically expanded, acquiring assets in several markets, including Brazil, Spain, and Italy. Last year, the company acquired Australia’s PSC Insurance Group for an implied equity value of A$2.3 billion ($1.5 billion), integrating it with its Envest business.
Strategic Initiatives
Ardonagh has recently implemented several strategic initiatives to strengthen its market position. In January 2025, its subsidiary, Arachas Corporate Brokers, acquired Insight Insurance Brokers in Cork, Ireland. In February, the company refinanced $1.2 billion of its debt through a syndicated loan arrangement managed by Morgan Stanley, Bank of America, and JPMorgan. This move allowed Ardonagh to reduce 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, furthering its presence in the northern UK.
