Ardonagh completes $2.5 billion Stone Point-led investment, valued at $14 billion

By Rebecca Delaney

June 30 - (The Insurer) - Ardonagh Group has completed its previously announced $2.5 billion equity investment led by funds managed by Stone Point Capital, it announced on Monday, in a transaction that valued the UK broker consolidator at $14 billion.

Following the equity investment, U.S.-based private equity firm Stone Point is now a "significant" shareholder in the group alongside Madison Dearborn Partners and HPS Investment Partners (who also participated in the latest investment round), as well as other global institutions.

The transaction was announced in December 2024, with the Ardonagh valuation represents a near doubling since it was valued at $7.5 billion when Abu Dhabi Investment Authority bought into it in 2021.

MDP and HPS led an investor consortium that took over Ardonagh in 2019.

Ardonagh said it will use the proceeds from the latest equity investment round to capture growth opportunities in the global P&C insurance market through its various regional in-market distribution platforms.

"Stone Point’s investment and the success of the co-investment process stand together as a resounding endorsement of Ardonagh. Amid a backdrop of global economic uncertainty, our unique proposition, track record and global platform attracted world-class investors who share our vision," commented David Ross, CEO of The Ardonagh Group.

"We are proud to welcome Stone Point into the fold in this next chapter alongside long-term partners whose support has been invaluable in our journey to becoming a $14 billion company. With such strong financial backing, Ardonagh has unparalleled empowerment to capitalise on future growth opportunities and deliver value to our clients, investors and people."

Completion of the deal follows the group's refinancing in February to simplify its capital structure, as well as notable M&A activity in the second half of last year as Ardonagh completed the merger of its personal lines business into Markerstudy and undertook a A$2.3 billion take-private of Australia’s PSC Insurance Group.