Ardonagh Specialty expands cross class follow capacity solution

Ardonagh Specialty today announces the further expansion of the exclusive cross-class follow-capacity solution to include Price Forbes’ Property business.

A panel of underwriters including Lloyd’s syndicates will follow pre-approved Lloyd’s leaders across placements for all Worldwide property business. Around $250 million of premium is in scope.

The portfolio solution will be managed within Price Forbes’ Equinox Division and digitally integrated using its proprietary EDGE platform to ensure ease of capacity deployment and constant accessibility for clients.

The addition of a property capacity solution follows April’s launch of a follow-facility to cover cargo, specie, terrorism, financial products, healthcare and marine, which has $350 million of premium in scope and is now backed by three carriers.

James Masterton, Chairman, Ardonagh Specialty*, said: “The horizontal expansion of our portfolio solutions is a testament to the analytical and modelling capabilities of our team. We’re delighted to be able to reach more clients with it and look forward to further developments in coming months as we look to broaden access to the capability across the wider Ardonagh Specialty landscape with focus around data generation.”

Price Forbes CEO Richard Peers says: “This is a fantastic development for our clients and producer partners across the world. To enter the new year with exclusive agreements covering $600 million of client portfolios across seven classes makes 2022 a hugely exciting time for our business.”

Chris Rider, Price Forbes Property Chairman, said: “Using data and digital automation to support the placement of clients’ property risks, especially at a time of tightening capacity, will provide certainty and cost effectiveness for our clients across the world. We’re proud to be able to launch this exclusive solution for Price Forbes clients with the support of Ardonagh’s analytical capabilities.”

Steve Dando, Head of Placement, The Ardonagh Group, said: “This is the second phase of delivery of meaningful dedicated follow capacity through this solution. We are pleased to be deepening our partnerships with carriers to offer dedicated capital to more of our Specialty client base.”

*Subject to regulatory approval

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Ardonagh Specialty
Ardonagh Specialty is the holding company and growth platform for leading independent brokers Besso Insurance, Bishopsgate, Compass London Markets, Ed Broking, Inver Re, Piiq Risk Partners and Price Forbes. Combined, we have 1700 colleagues globally and manage $5 billion in gross written premium.

With a strong presence and deep relationships worldwide, and a steadfast commitment to investing in the best people, markets and technology, together our businesses offer open market programmes, reinsurance and international solutions designed to empower clients to achieve their strategic ambition.

The Ardonagh Group
The Ardonagh Group is the UK’s largest independent insurance distribution platform and a top 20 broker globally. We are collection of best-in-class entrepreneurial and specialist brands with a network of more than 100 locations and a combined workforce of more than 8,000 people. Across our portfolio, we offer a highly diversified range of insurance-related products and services across the full insurance value chain in the UK, Ireland and broader international markets. From complex multinational corporations to individuals purchasing personal insurance policies, our understanding of the communities we serve, together with our scale and breadth, allows us to work with our insurer partners to deliver a broad range of product and risk solutions that meet customer needs. For more information, visit our website: www.ardonagh.com.