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.
