Michael Donegan Becomes Strategic Adviser to The Ardonagh Group
The Ardonagh Group (“the Group”) today announces the appointment of Michael Donegan as Strategic Adviser.
Michael will step away from the day-to-day operations of Price Forbes, where he has been CEO since 2004.
The Group today also announces the appointment of James Masterton as CEO of Price Forbes & Partners Ltd and also his appointment to the Price Forbes Holdings Board, with immediate effect and subject to regulatory approval.
James Masterton is currently Chairman of the Non-Marine team at Price Forbes and has over 25 years’ experience in the insurance market.
David Ross, CEO of The Ardonagh Group said today:
“Mike has established Price Forbes as one of the most highly regarded independent brokers in the sector. In leading the company to global broker status, he has been instrumental in growing turnover threefold over the course of the past decade. As Strategic Adviser to The Ardonagh Group, he will continue to share with the Group his unparalleled expertise whilst transitioning the running of the day-to-day operations to the next generation of leadership. To that end, I am delighted to confirm the promotion of James*, who is committed to supporting and promoting collaboration and innovation in his leadership of the business.”
“I would like to take this opportunity to thank Mike for his professional approach to these changes as he moves to the next stage of his career. I very much look forward to supporting James as he continues to move the vision forward.”
Michael Donegan added:
“The time is now right for me to hand the baton over to an extremely capable team with a formidable brand and reputation both in London and across the globe. I am immensely proud of all we have achieved at Price Forbes over the last 12 years. The scope to build the business within The Ardonagh Group, whilst remaining a leading independent wholesale broker, will afford the team huge opportunities in the coming years. I wish them many more years of success.”
James Masterton said:
“I am delighted to take on the leadership of Price Forbes, a business with a reputation for excellence based on decades of market prominence. Having spent so much of my career in the business, I am genuinely honoured to be taking the reins as we enter a new chapter in the Price Forbes story, one which I believe will create many exciting opportunities for our people and for our customers. I would like to personally thank Mike for his leadership to this point, and as his successor, for his support and guidance.”
The Ardonagh Group consists of Autonet, Chase Templeton, Direct Group, Price Forbes and Towergate, harnessing market leading positions spanning the breadth of UK general insurance with a global reach.
* subject to regulatory approvals
Notes to Editors
About The Ardonagh Group
The Ardonagh Group is the UK’s largest independent insurance broker with global reach and a network of over 100 offices with a workforce of over 5,000 people.
The Ardonagh Group was created in June 2017, bringing together Autonet, Chase Templeton, Direct Group, Price Forbes and Towergate.
Our understanding of the communities we serve, together with our scale and breadth, allows us to work with our insurer partners to deliver solutions that meet our customer needs.
About Price Forbes
Established in 1893, Price Forbes is an independent, specialist international wholesale insurance broker headquartered in London employing over 300 staff. It is a world class international Lloyd’s broker with ten successive years of growth, placing non-standard risks for large multi-national companies.
Michael started his career in the Marine division at Sedgwick Ltd in 1980, before progressing to become Marine Divisional Director and Head of North American Hull at Leslie & Godwin.
In 1993 he founded the insurance broker, Roberts Donegan Ltd. In 1996 the company purchased Morgan Donegan & Coleman, to form Prentis Donegan & Partners Ltd, which was later acquired by Marsh Group and merged with Price Forbes Ltd. In 2006, Michael led the management buyout of Price Forbes Ltd from Marsh, creating Price Forbes & Partners Ltd.
James started his career in 1983 in London at Sedgwick, joining as a broker of property programmes for North American corporations, placing business into Lloyd’s and European markets and became a Director of Sedgwick North America Ltd before moving to Prentis Donegan.
James led the combined Non-Marine groups for the merged Price Forbes Ltd and Prentis Donegan & Partners Ltd under the ownership of Marsh & McLennan Companies, Inc. Previously, James joined Prentis Donegan & Partners Ltd in 1998 to help develop and subsequently lead its Non-Marine group.
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