Ardonagh Group’s small and medium-sized enterprise (SME) broking platform, Ardonagh Advisory, has acquired UK-based RiskSTOP Group.
RiskSTOP Group specialises in providing insurance technology as well as risk management surveys and ancillary services to its clients, which mainly include the UK insurer and broking communities.
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Founded in 2000, RiskSTOP has a team of more than 200 employees and consultants.
The companies did not disclose the financial details and other terms of the transaction.
Following this deal, RiskSTOP Group managing director Danny Lillington and his management team will continue to lead the business.
The acquisition is expected to boost Ardonagh Advisory’s technological capabilities.
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By GlobalDataArdonagh Advisory chief commercial officer Phil Bayles said: “RiskSTOP is a highly regarded business whose pioneering risk management system protects clients from hazards and harm, including [the] growing issue of underinsurance.
“This is an accomplished and well-established company run by real experts in this field. We are looking forward to supporting [the] team so that they can grow further and deliver even more valuable services to their clients across the market.”
By joining Ardonagh Advisory, RiskSTOP said it will become a part of a wider network of specialist brands operating across more than 200 locations, with a combined team of 10,000 employees.
Ardonagh Advisory’s portfolio currently includes brands such as Bravo Networks, Footman James, Hera Indemnity, Lorega, Thompson & Bryan, Towergate, Towergate Health & Protection and Usay Compare.
RiskSTOP Group managing director Danny Lillington added: “We are now looking to see how we can achieve even greater impact and take what we do to [the] next level.
“By joining Ardonagh Advisory we will be able to continue to support our clients with [the] same great level of service, while also working to innovate and develop our offer for [the] benefit of all.”
In July this year, Ardonagh Advisory acquired independent insurance broker AMS Insurance Solutions to expand its presence in the south-west of England.
