Independent insurance broker Ardonagh Specialty has brokered a deal to buy Oxford Insurance Group for an undisclosed sum.
Oxford, a Lloyd’s broker, is engaged in multiple speciality lines of businesses, such as professional indemnity, property, general liability, marine and energy.
Its UK-based operations include Lloyd’s broker Oxford Insurance Brokers , James Hampden International and MGB Insurance Brokers.
Oxford also operates two managing general agencies, Switzerland-based UNIS and Dubai-based Antarah.
Upon completion, Oxford’s brands, and the team of 125 will become part of Ardonagh Specialty, which is claimed to have generated $6bn in gross written premiums.
Ardonagh Specialty CEO Antony Erotocritou said: “In Oxford we have found shared values and true alignment on client service and the role of technology and innovation in delivering for them.
“We look forward to welcoming our new colleagues and supporting them as part of the largest truly independent broking group.”
Oxford Insurance Group founder and CEO Randall Goss said: “I am incredibly proud of our journey and of all the people who have contributed to this moment.
“The independent platform Ardonagh has created will give Oxford the scale and even more opportunities to deliver insurance solutions for clients across the globe.”
The deal to acquire Léons, which offers full-service insurance solutions to corporate clients, was first announced in July this year.