Ardonagh Advisory has officially welcomed two significant additions to its group: high net worth (HNW) broker Stanhope Cooper and managing general agent (MGA) Renovation Underwriting. This follows a prior agreement to acquire a majority stake in these businesses.
As part of the agreement, Ardonagh has acquired a shareholding in N&W Investments, which serves as the parent company for Stanhope Cooper, Renovation Underwriting, as well as Insurance Tailors and Porterhouse Brokers.
Stanhope Cooper, headquartered in Petersfield and founded in 2006, specialises in providing insurance and risk management advice to HNW private clients and business owners. Under the leadership of managing director William Cooper, the brokerage has grown in recent years through strategic acquisitions and a commitment to operational excellence.
Cooper will continue to lead Stanhope Cooper, which will become part of the Ardonagh Advisory platform, offering opportunities to further enhance Ardonagh's HNW services.
Renovation Underwriting is a leading MGA with offices in London and Cambridgeshire, focusing on providing insurance solutions for private client contract works and high-value projects. Founded by managing director Douglas Brown, it is a multi-awarded business that brings extensive experience in delivering renovation insurance to both private and commercial clients.
Brown will continue to lead Renovation Underwriting, which will integrate into Ardonagh's UK Commercial MGA. He will also assume a leadership role within the Commercial MGA executive committee, led by CEO Jaime Swindle.
“Stanhope Cooper is a high-growth business, with expertise primarily in the HNW arena,” Advisory Insurance Brokers CEO Richard Tuplin said. “We are looking forward to harnessing these capabilities to further enhance our client proposition and market position whilst delivering our mutually ambitious growth strategy.”
“Renovation Underwriting is yet another string to our UK Commercial MGA bow that seeks to offer products that are truly specialist in scope,” Ardonagh Advisory Commercial MGA CEO Jaime Swindle said. “Douglas Brown and the team at Renovation Underwriting have decades’ worth of experience delivering highly specialist products to market. Douglas’ expertise is a highly prized addition to the UK Commercial MGA and will bring fresh insight as we continue to build and strengthen our distinct proposition.”
Ardonagh’s latest swoops are just the latest in a spree; earlier last month, the broker also added Sorvio Insurance, a 30-year old commercial brokerage, to its ranks.
Renovation Underwriting was awarded as The Best MGA in Insurance in the UK. See the full list of winners in IB's Brokers on MGAs 2023 special report.
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