Ardonagh Advisory acquires UK medical insurance broker Usay Group
Ardonagh Advisory Holdings Ltd, a subsidiary of the Ardonagh Group, has announced the acquisition of Usay Group Ltd., one of the largest personal health and consumer insurance brokers in the UK.
Financial terms of the deal were not disclosed.
Launched in 2008, Usay is a leading comparison service for health insurance, life insurance and income protection, Ardonagh said in a statement. With headquarters in South Cerney in Gloucestershire, England (near Cirencester) and additional offices in Bristol and London, Usay strives to make private medical care cost effective, simple and accessible. The company employs a team of 195 people.
Usay brings organic growth capability to the Ardonagh consulting platform where it will complement existing Towergate Health & Protection offerings, according to Ardonagh.
Iain Laws, CEO of Towergate Health & Protection, will lead both companies. Mark Noble, currently Managing Director of Usay, will continue to lead the Usay brand as CEO. He joined the company from Aviva in 2019.
Meanwhile, Usay directors Kim Tomkins and Andrew Hall will oversee the transition to Ardonagh Advisory as consultants over the next six months, before moving on to explore new opportunities.
“Today’s acquisition comes at a critical time not only for us as a company, but for our customers and the industry at large; it has never seemed more important to ensure that health and wellness come first, ”commented Rob Worrell, CEO of Ardonagh Advisory.
“Today is a real celebration for us as we welcome aboard a company that has long been high on our wishlist, solidifying Ardonagh’s position as the headquarters of one of the world’s leading brokers. UK health and protection, ”said Iain Laws. , CEO of Towergate Health & Protection.
“Usay’s team is made up of an incredibly talented set of people who I know will only enhance the excellent capabilities we already have with our knowledge and expertise in Towergate Health & Protection,” Laws added.
“My fellow shareholders and I are delighted to be joining such a dynamic, innovative and exciting group of companies within the Ardonagh Advisory platform, which will allow us to move quickly into the next chapter of our development. strategic, ”said Usay CEO Noble. .
“I would like to take this opportunity to thank Kim Tomkins and Andrew Hall, whose invaluable support in moving the business forward for over a decade, and in particular with the move to Ardonagh Advisory, has been crucial to our success. I am extremely grateful for their offer of continued advice over the next few months as we settle into our new home and move on to the next exciting phase of our journey, ”continued Noble.
This acquisition follows the acquisitions of two brands – Chase Templeton in 2017 and The Health Insurance Group in 2018 – which were then integrated to become part of Towergate Health & Protection.
Completion of the transaction is subject to regulatory approval.
About Ardonagh Advisory Holdings and Towergate Health & Protection
Ardonagh Advisory Holdings Ltd is the SME brokerage platform of the Ardonagh Group, comprised of the Broker Network, Compass Network, Ethos Broking, Footman James, Towergate Insurance Brokers, Towergate Health & Protection, Towergate Riskline and Your Insurance brands.
Towergate Health & Protection, headquartered at West Park House, Southampton, combines an independent insurance brokerage service for businesses and individuals worldwide with specialist health and wellness advice and solutions. to be.
Source: The Ardonagh Group
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