Insurance broker Ardonagh Advisory has completed the acquisition of high net-worth (HNW) broker Stanhope Cooper and managing general agent (MGA) Renovation Underwriting.
The deal, which was announced in April this year, saw Ardonagh Advisory acquire a stake in N&W Investments.
Stanhope Cooper, Renovation Underwriting and other insurance businesses Insurance Tailors and Porterhouse Brokers are owned by N&W Investments.
A part of the Ardonagh Group, Ardonagh Advisory did not disclose the financial terms of the transaction.
Established in 2006 and based in Petersfield, Stanhope Cooper offers HNW individuals and business owners specialised insurance and risk management guidance.
Ardonagh Advisory noted that under the leadership of managing director William Cooper, the firm has experienced significant expansion in recent years through multiple acquisitions.
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Meanwhile, Renovation Underwriting offers insurance for high-value projects and private client contract works.
The MGA has offices in London and Cambridgeshire.
Renovation Underwriting will join Ardonagh’s UK Commercial MGA, and Stanhope Cooper become part of the Ardonagh Advisory platform.
Advisory Insurance Brokers CEO Richard Tuplin said: “Stanhope Cooper is a high-growth business, with expertise primarily in the HNW arena. We are looking forward to harnessing these capabilities to further enhance our client proposition and market position whilst delivering our mutually ambitious growth strategy.”
Ardonagh Advisory CEO of commercial MGA Jaime Swindle said: “Renovation Underwriting is yet another string to our UK Commercial MGA bow that seeks to offer products that are truly specialist in scope.”
In July, Ardonagh Advisory acquired AMS Insurance Solutions, a regional broker engaged in offering commercial and personal lines insurance.