The Ardonagh Group, a large independent insurance distribution platform, has acquired Zurich-based broker SRB Assekuranz Broker AG (SRB).
According to Ardonagh, SRB, which focuses on corporate customers, primarily in the industrial sector, shares a long-standing relationship with and will operate as part of MDS Group, its platform for Latin America and Rest of World.
Founded in 1980, SRB has reportedly been a partner of Brokerslink, the global risk management and broking network founded by MDS, since 2007. SRB CEO Edoardo Leusciatti serves on the Brokerslink board.
Following the acquisition, Ardonagh said the SRB management team will continue to lead the business, which employs 30 people across offices in Switzerland and Liechtenstein, and manages a premium pool valued at approximately €120 million.
On behalf of Ardonagh, MDS Group CEO José Manuel Fonseca commented, “I am delighted to welcome the SRB team to the Ardonagh family. Their experience and knowledge will enhance our long-standing partnership and ability to excel in this strategically important sector.
“By deepening our collective capabilities and further empowering our teams across our geographical locations, we will elevate our service to clients.”
SRB CEO, Edoardo Leusciatti, added, “Joining The Ardonagh Group alongside our longstanding partners MDS will expand our presence in the local market and beyond.
“It provides significant gains in scale and access to important specialty and technological resources which strengthens our customer proposition. This is an exciting new chapter for us all.”
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