Further to its announcement in September 2023, The Ardonagh Group confirms it has completed the merger between its personal lines broking business Atlanta Group and Markerstudy.
A party related to Ardonagh will retain a substantial minority equity stake in the combined business.
Commenting on completion, Atlanta Group founder and Chief Executive Officer of Markerstudy Distribution, Ian Donaldson, said “I am hugely energised to start our journey to create a major new player in the UK insurance landscape. With the formidable talent and expertise of our colleagues focused toward this new chapter, we look forward to delivering innovative solutions and service for the 8 million+ customers now shared across our leading and specialist brands.
“I also want to say a personal thank you to Ardonagh CEO David Ross and all the Ardonagh team. When I first met David back in 2016, we discovered we had a shared vision and dream of what could be achieved with the right people and a lot of hard work. The creation of Atlanta and merger with Markerstudy simply wouldn’t have been possible without their backing, and I’m pleased that they will still be involved as a shareholder.”
Group Chief Executive David Ross added: "We're proud to have supported Ian and his team to reach this milestone. Autonet joined us as a digital van insurance specialist with £130 million in premium, 550 people and exceptional leadership. It became Atlanta and now joins Markerstudy, adding £1 billion of premium across several product lines, more than 2,000 colleagues and the same exceptional leadership. We're delighted to remain part of the journey as a shareholder and to support Markerstudy's growth in this new chapter."
ENDS
NOTES TO EDITORS
THE ARDONAGH GROUP
The Ardonagh Group is one of the world’s largest independent insurance distribution platforms and a top 20 global broker. We are a collection of best-in-class entrepreneurial and specialist brands with a combined workforce of over 10,000 colleagues and a network spanning 200+ locations in more than 30 countries. Across our portfolio, we offer a highly diversified range of insurance-related products and services across the full insurance value chain globally. From complex multinational corporations to individuals purchasing personal insurance policies, our understanding of the communities we serve, together with our scale and breadth, allows us to work with our insurer partners to deliver a broad range of product and risk solutions that meet customer needs.
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