Stone Point Capital has agreed to invest in Ardonagh Group, enabling it to become a significant shareholder in the insurance broker. The investment funds managed by Stone Point Capital value Ardonagh at $14 billion.
The completion of this deal is expected in the middle of 2025. The transaction is subject to standard closing conditions, including regulatory approvals. Stone Point will join existing stakeholders such as Madison Dearborn Partners (MDP), HPS Investment Partners, a subsidiary of the Abu Dhabi Investment Authority, and other global institutions.
The investment concludes a pivotal year for Ardonagh. It saw a notable refinancing in March, the merger of its personal lines business with Markerstudy in June, and the privatization of Australia’s PSC Insurance Group in October.
Through Stone Point’s backing, Ardonagh will leverage growth opportunities within the global P&C insurance market, capitalizing on its regional presence.
Launched in 2017 through the merger of several UK insurance businesses, Ardonagh has grown to manage $18 billion of premiums, operating across the entire insurance distribution value chain.
Stone Point has over $55 billion of assets under management. The company targets investments in companies in the global financial services industry and related sectors.
Fenchurch Advisory Partners, Goldman Sachs Investment Banking and Morgan Stanley serve as financial advisors to Ardonagh. And Paul, Weiss, Rifkind, Wharton & Garrison is providing legal counsel to Ardonagh, and Debevoise & Plimpton to Stone Point.
KEY QUOTES:
“Stone Point’s investment in the Group marks a new phase in our extraordinary journey over the past few years to become the $14bn business we are today. Their support reflects conviction in the strength of Ardonagh’s business and continued momentum and redoubles our commitment to independence in a consolidating market.”
- Ardonagh Group CEO David Ross
