Ardonagh Advisory to purchase PMI specialist Usay Group
The Cirencester-headquartered business, which has 195 staff, will add to Adonagh's PMI proposition.
Ardonagh Advisory has today announced it is set to by Usay Group, subject to regulatory approval.
Established in 2008, the company offers comparison services for health insurance, life insurance and income protection.
Upon completion, Usay will operate as part of the Ardonagh Advisory platform, complementing existing offerings from Towergate Health & Protection.
Rob Worrell, CEO of Ardonagh Advisory said: “It’s great to be continuing the growth story of Ardonagh Advisory today, which I’m proud to say has remained uninterrupted throughout the past 12 months thanks to the strength and resilience of the Group, and the dedication and client-focus that colleagues across our brands continue to show every day.
“Usay is a business we have long admired, so we are thrilled to be announcing our intentions to bring them into the family, expanding our offering in the health arena and unlocking opportunities for innovation.”
The business is based in Cirencester, and it is powered by a team of 195 people. In 2020, it generated revenue of £18.4m
Future
Iain Laws, CEO of Towergate Health & Protection, will lead both businesses. Mark Noble, currently managing director at Usay, having joined the business from Aviva in 2019, will continue to head up the Usay brand as CEO.
The deal follows on from the acquisitions of two medical brands – Chase Templeton in 2017, and The Health Insurance Group in 2018, which were subsequently integrated to form part of Towergate Health & Protection.
Laws commented: “The addition of such a strong consumer brand as Usay cements Ardonagh’s position as the home of leading health and protection brokerage.
“The impacts of the pandemic have reinforced the need and importance of health, wellbeing and protection cover, and we are looking forward to supporting the Usay team in their quest to help even more clients across the UK to benefit from Usay’s advice and support in their health, life and protection insurance needs.”
For all the latest industry news direct to your inbox, sign up for our daily newsletter.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Broker
ERS and Acturis team up on full-cycle API car product for brokers
Acturis and specialist motor insurer ERS have launched an API based car insurance product for brokers on the software provider’s platform which replaces legacy EDI messaging.
People Moves: 30 May – 2 June 2023
Stay in the loop with the latest personnel moves in insurance.
Brokerbility adds A-One as member
A-One Insurance Group has joined Brokerbility, becoming the first member to sign up after the network unveiled a refreshed proposition in April.
Ardonagh expands into Greece
The Ardonagh Group has signed up to buy a majority stake in Athens-based SRS Group of Companies.
Markerstudy maintains motor capacity amid Italian insurer cutbacks
Markerstudy-owned Clegg Gifford has maintained its capacity with insurer Unipol, although uncertainty remains about the Italian provider’s commitment to the UK market.
Jensten Group buys up Coversure member
The Jensten Group has bought the Coversure Poole Group for an undisclosed amount.
Interview: Melissa Collett
Melissa Collett left the CII at the end of May. A champion of professionalism and customer fairness, she has some wise words for an insurance industry on the brink of change.
Verisk targets brokers and MGAs with Morning Data buy
Global data analytics and technology provider Verisk has bought Morning Data, a supplier of software to brokers and managing general agents in London and across the world.