The Ardonagh Group acquires BGC insurance brokerage business for $500 million

Insurance brokerage - business aquisition

The acquisition transaction is expected to close before the end of this year. The Ardonagh Group Limited has announced that it has acquired the insurance brokerage business from BGC Partners, Inc for $500 million of cash consideration. BGC is a leading global financial technology and brokerage business. “The agreement to sell our Insurance Brokerage business for $500 million reflects the significant value we have created since entering this market in 2017. Like our previous sales of eSpeed and Trayport, as well as our IPO and tax-free spin-off of Newmark, this…

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