Ardonagh Specialty – the business within The Ardonagh Group that spans Besso Insurance, Bishopsgate, Compass London Markets, Ed Broking, Inver Re, Piiq Risk Partners, and Price Forbes – is acquiring Lloyd’s broker Oxford Insurance Group, subject to regulatory approval.

“In Oxford we have found shared values and true alignment on client service and the role of technology and innovation in delivering for them,” declared Ardonagh Specialty chief executive Antony Erotocritou. “We look forward to welcoming our new colleagues and supporting them as part of the largest truly independent broking group.”

When finalised, the swoop will add 125 people to Ardonagh Specialty’s 1,400-strong workforce.

To date, the independent broking group manages $6 billion in gross written premium. Buying Oxford Insurance Group will mean the onboarding of Oxford Insurance Brokers – brand names of which include Oxford, James Hampden, and MGB – UNIS, and Antarah.

Commenting on the pending transaction, Oxford Insurance Group founder and CEO Randall Goss said: “I’m incredibly proud of our journey and of all the people who have contributed to this moment. The independent platform Ardonagh has created will give Oxford the scale and even more opportunities to deliver insurance solutions for clients across the globe.”

Financial terms of the deal were not disclosed.