Ardonagh Advisory Agrees to Acquire Rowett Insurance Broking in UK
Ardonagh Advisory announced it has agreed to acquire Rowett Insurance Broking Ltd. in the UK.
Rowett specializes in commercial, and personal insurance from its offices in St. Austell and Plymouth, England. Its subsidiary company, AGRi Insurance Facilities Ltd., specializes in wholesale agricultural insurance running from its office in Darlington and its base in St. Austell.
Financial details of the deal were not disclosed.
Upon completion, founder and managing director, Glyn Rowett, will remain at the company along with staff including Rowett Directors Matthew Nile and Gareth Rowett.
“After several discussions across the market, Ardonagh Advisory emerged as the best fit for our business,” commented Glyn Rowett.
“Through our membership of Bravo Networks, we have long benefited from their strong operational support and access to markets, and I’d like to take the opportunity to thank Phil Bayles, chief commercial officer of Ardonagh Advisory, who I have worked with for many years through our Bravo Networks membership, for his support through this process,” Rowett said. “It’s exciting to know our people and clients will now have the full advantage of Ardonagh’s breadth and scale – aligned by a shared focus on achieving the best insurance and risk management advice for our clients.”
“Rowett Insurance is highly complementary to our agricultural specialism and bolsters our presence in the southwest of England. Rowett’s longstanding connections with farming communities are a testament to the high calibre people who we look forward to welcoming,” said Richard Tuplin, CEO of Advisory Insurance Brokers Ltd.
“We are delighted to welcome AGRi Facilities to the Geo Underwriting family. Their strong client relationships align perfectly with our commitment to delivering tailored solutions across the UK, and their experience will further enhance our deep expertise in farming and agricultural insurance,” according to Jaime Swindle, CEO of Geo Underwriting. “Together, we will continue to build on their solid foundation, ensuring the best possible outcomes for our clients and partners.”
About Ardonagh Advisory and Ardonagh Group
Ardonagh Advisory Broking Holdings Ltd. is The Ardonagh Group’s SME broking platform comprised of Bravo Networks, Footman James, Geo Underwriting, Hera Indemnity, Lorega, Towergate, Towergate Health & Protection, Thompson & Bryan and Usay Compare brands.
The Ardonagh Group is one of the world’s largest independent insurance distribution platforms and a top 20 global broker.
Source: Ardonagh Group