Ardonagh Netherlands, part of The Ardonagh Group, has reached an agreement to acquire a majority stake in Private Insurance Assuradeuren B.V. (PIA) and Private Insurance Nederland B.V. (PIN), two prominent players in the Dutch insurance market for high-net-worth individuals.
Financial details of the deal, which is subject to customary regulatory approvals, were not disclosed.
PIA is a managing general agent (MGA) specializing in the development and distribution of insurance products for high-net-worth individuals. Its offerings include exclusive insurance solutions for personal package policies (home, contents, art, and valuables), luxury vehicles, and pleasure crafts.
Supported by a robust network of international specialized insurers, the company currently offers innovative solutions in the Netherlands.
These premium tailor-made products are distributed, among others, through PIN. PIN focuses on supporting and further developing local insurance brokers who utilize PIA’s services.
Sunny Leons, CEO of Ardonagh Netherlands, stated, “This acquisition strengthens our network and provides PIA and PIN a strong foundation for future growth and innovation within Ardonagh, leading to improved solutions and services for the clients of their intermediaries.
We have observed that there is significant demand for exclusive insurance solutions for high-net-worth individuals and this deal will allow our teams to develop enhanced solutions and services for their clients.”
“We are delighted to welcome PIA and PIN to the Ardonagh family,” said Bart-Jan Kastrop, managing director of High-Net-Worth Insurance at Ardonagh Netherlands. “This collaboration opens up new opportunities to further enhance our services and boosts the position of PIA and PIN as market leaders. Expanding our high-net-worth portfolio is a key focus for us.”
PIA and PIN are being acquired by Ardonagh Netherlands HNW B.V, a subsidiary of Ardonagh Netherlands Bidco B.V.
The Ardonagh Group
London-based Ardonagh Group is an independent insurance distribution platform, comprising a collection of specialist brands with a network of over 200 locations in 30 countries and more than 10,000 employees.
Source: The Ardonagh Group
Topics Mergers & Acquisitions
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