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Ardonagh Group Agrees to Purchase BGC’s Insurance Business for $500 Million

May 27, 2021


The Ardonagh Group, a leading UK insurance broker, announced it has agreed to acquire the insurance operations of BGC Partners Inc. for $500 million in cash.

The transaction is expected to close in the second half of 2021, subject to regulatory approvals.

Ardonagh will acquire 100% of Ed Broking Group and Besso Insurance, which were recently grouped together under the brand of Corant Global. Corant comprises global wholesale and specialty re/insurance broker Ed, Lloyd’s broker Besso, aviation specialist Piiq Risk Partners, German marine broker Junge, UK-based MGA Globe Underwriting, Australian MGA Epsilon Underwriting and European MGA Cooper Gay.

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