British insurance broker The Ardonagh Group has reached a deal to purchase Netherlands-based specialist commercial lines insurance broker Klap Verzekeringsmakelaar from Nedvest.

The deal will be executed by Ardonagh Europe, via its subsidiary Ardonagh Netherlands BidCo.

Financial details of the deal were not divulged.

Established in 1854, Klap provides small and midsize enterprises (SMEs) with employee benefits, insurance and pensions solutions.

The firm is said to have distributed more than €100m of gross written premiums (GWP) per year.

Ardonagh will use its available funds to finance the acquisition and retain Klap’s current management.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The deal is said to help Ardonagh Europe explore the potential in the Dutch insurance market that has a history of over 230 years.

Last year, Ardonagh Europe acquired Dutch family-owned insurance brokerage and consultancy firm Léons Group.

Ardonagh Europe CEO Conor Brennan said: “This is a hugely complementary acquisition, aligning neatly with our Group’s footprint both internationally and in the European market.

“Alongside the vast expertise of Léons, Klap further diversifies our portfolio and our customer base in The Netherlands, creating a strong platform to accelerate our growth ambitions in the region.”

Klap CEO Jorg Roodbeen said: “Today’s announcement marks the start of a new and exciting chapter for us all.

“In Ardonagh we have found a strategic partner supportive of our ambitions. Our clients and colleagues will benefit from this.”