The Ardonagh Group, a global independent insurance broker, has announced the completion of the previously announced $2.5 billion equity investment led by funds managed by US-domiciled private equity firm Stone Point Capital LLC, valuing the group at $14 billion.
This landmark transaction sees Stone Point become a significant shareholder in Ardonagh, alongside MDP, HPS, and co-investors, including a wholly owned subsidiary of the Abu Dhabi Investment Authority, amongst several other large global institutions.
David Ross, Chief Executive Officer (CEO), The Ardonagh Group, commented, “Stone Point’s investment and the success of the co-investment process stand together as a resounding endorsement of Ardonagh. Amid a backdrop of global economic uncertainty, our unique proposition, track record and global platform attracted world-class investors who share our vision.
“We are proud to welcome Stone Point into the fold in this next chapter alongside long-term partners whose support has been invaluable in our journey to becoming a $14 billion company. With such strong financial backing, Ardonagh has unparalleled empowerment to capitalise on future growth opportunities and deliver value to our clients, investors and people.”
Jim Carey, Co-CEO, Stone Point, added, “We are excited to partner with Ardonagh, as well as with MDP, HPS and ADIA. Ardonagh has distinguished itself as a leading platform in the global insurance distribution industry, and we believe that the company is well-positioned for continued growth.”
Through support from Ardonagh’s diversified group of high-quality investors, the group remains well placed to engage in growth opportunities in the global P&C insurance market through its platform of businesses, which each have a strong regional in-market presence.
Since its founding in 2017 through the merger of several UK insurers to create a diversified group, the insurance broker has placed $18 billion in premiums and operates across the entire insurance distribution value chain.
After a strong 2024 for Ardonagh, in February 2025, the company completed a milestone refinancing, followed by the launch of Ardonagh Intelligence, marking a new phase in its journey to harness the best of machine learning and data enrichment across its businesses to extend the benefits the Group can deliver to the millions of clients it serves.
Last year, the company completed the merger of its personal lines business into Markerstudy in June 2024, and the acquisition of Australia’s PSC Insurance Group in October 2024 for A$2.3 billion, one of 68 acquisitions across multiple geographies completed in the year.
Vahe Dombalagian, Managing Partner, Madison Dearborn Partners, commented, “Today’s announcement is a further testament to the continued strength and growth of Ardonagh, and its ability to operate and create value across market cycles. We are excited to officially welcome Stone Point to the partnership and look forward to collaborating closely with them.”
Scot French, a Governing Partner, HPS, added, “Stone Point’s investment—alongside strong interest from co-investors—reflects the strength of Ardonagh’s platform. We are proud to continue our long-standing partnership with the entire Ardonagh team as they focus on the next phase of growth.”
Fenchurch Advisory Partners, Goldman Sachs Investment Banking & Co. LLC and Morgan Stanley & Co. LLC are Ardonagh’s financial advisors. Meanwhile, Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as legal advisor to Ardonagh, while Debevoise & Plimpton LLP is acting as legal advisor to Stone Point.
