Tuesday, June 6, 2023
HomeInsurance LawArdonagh to purchase Dutch industrial traces dealer Klap

Ardonagh to purchase Dutch industrial traces dealer Klap

British insurance coverage dealer The Ardonagh Group has reached a deal to buy Netherlands-based specialist industrial traces insurance coverage dealer Klap Verzekeringsmakelaar from Nedvest.

The deal will probably be executed by Ardonagh Europe, by way of its subsidiary Ardonagh Netherlands BidCo.

Monetary particulars of the deal weren’t divulged.

Established in 1854, Klap offers small and midsize enterprises (SMEs) with worker advantages, insurance coverage and pensions options.

The agency is alleged to have distributed greater than €100m of gross written premiums (GWP) per 12 months.

Ardonagh will use its accessible funds to finance the acquisition and retain Klap’s present administration.

The deal is alleged to assist Ardonagh Europe discover the potential within the Dutch insurance coverage market that has a historical past of over 230 years.

Final 12 months, Ardonagh Europe acquired Dutch family-owned insurance coverage brokerage and consultancy agency Léons Group.

Ardonagh Europe CEO Conor Brennan stated: “It is a massively complementary acquisition, aligning neatly with our Group’s footprint each internationally and within the European market.

“Alongside the huge experience of Léons, Klap additional diversifies our portfolio and our buyer base in The Netherlands, creating a robust platform to speed up our progress ambitions within the area.”

Klap CEO Jorg Roodbeen stated: “At present’s announcement marks the beginning of a brand new and thrilling chapter for us all.

“In Ardonagh we have now discovered a strategic accomplice supportive of our ambitions. Our purchasers and colleagues will profit from this.”



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