The Ardonagh Group subsidiary Ardonagh Advisory has acquired The Professional Broking Group, which trades as The Professional Indemnity Company.
Established in 2005, Chester-based The Professional Indemnity Company specialises in professional indemnity (PI) insurance for all professions, including solicitors, architects, surveyors, engineers, and accountancy firms. It has gross written premium (GWP) of more than £20 million.
The deal will see the PI insurer operate as part of the wider Ardonagh Advisory platform, including regional PI broker Alice Castle and Lloyd’s PI broker Hera Indemnity, as well as Bravo Networks, Ethos Broking, and Towergate Insurance Brokers.
Scott Harrison, managing director of The Professional Indemnity Company, will continue to lead the business.
“The Ardonagh Group has been on an impressive growth trajectory over the past few years and is a business that we know can support our own ambitions for the future and help us further enhance what is already a client-focused, service-driven business,” Harrison said. “Ardonagh offers a whole new level of opportunity, and being part of a business of its scale is a great day for both our specialist team of staff and our clients, every one of which remains important to us.”
Ardonagh Advisory CEO Rob Worrell commented: “The Professional Indemnity Company has a well-earned reputation as a market-leading specialist, providing hands-on, customer-focused support to its clients, in addition to exceptionally broad market access.
“We’re proud that Scott Harrison and his team will continue to grow the company as part of Ardonagh Advisory, one of the UK’s independent advice-driven businesses.”
Ardonagh Advisory is The Ardonagh Group’s SME broking platform. The move follows the group’s acquisition of Envest, the UK’s largest independent insurance distribution platform.