The Ardonagh Group, based in London, has announced its acquisition of SRB Assekuranz Broker AG, a Zurich-based insurance broker. This move, which strengthens Ardonagh’s position in the insurance market, was made public recently, although the financial details of the deal were not disclosed.
SRB, founded in 1980, specializes in serving corporate clients, especially in the industrial sector. The company has a skilled team that includes a risk engineering division, which provides valuable insights into risk management. SRB caters to both small and medium-sized enterprises as well as larger businesses in various sectors, including industry, trade, and services.
The management team at SRB will continue to lead the company, which has about 30 employees across its offices in Switzerland and Liechtenstein. The broker manages a premium pool worth around €120 million. SRB has a long-standing relationship with MDS Group, which is part of Ardonagh and focuses on Latin America and other global markets.
José Manuel Fonseca, CEO of MDS Group, expressed enthusiasm about the acquisition, stating that SRB’s expertise will enhance their partnership and improve service delivery to clients. SRB’s CEO, Edoardo Leusciatti, also shared his excitement, noting that joining Ardonagh will help expand their market presence and provide access to essential resources.
In a related development, Optio Group, another London-based company, has completed its acquisition of S Insurance AS, a managing general agent (MGA) based in Norway. This acquisition, which follows a series of strategic purchases by Optio, aims to diversify its portfolio by adding high-quality niche MGAs across Europe. S Insurance focuses on marine hull underwriting and has a strong presence in the European market.
These acquisitions reflect a broader trend in the insurance industry, where companies are seeking growth through strategic partnerships and expansions. As the market evolves, these moves may position Ardonagh and Optio to better serve their clients and adapt to changing demands.