Ardonagh Advisory continues on growth trajectory with addition of Sorvio
Ardonagh Advisory has acquired Sorvio Insurance Brokers Ltd, an independent broker, providing a range of commercial insurance solutions to clients across the Southwest of England.
Sorvio is the latest in a recent run of high-quality acquisitions to join the Advisory platform and wider Ardonagh Group, as the business continues to grow its presence across the UK and around the world.
Last month Ardonagh welcomed PB Curran, AMS Insurance Solutions and Sentinel Insurance Solutions to its growing portfolio of leading businesses, which followed the earlier addition of Pace Ward and the announcement that it has agreed to acquire Stanhope Cooper and Renovation Underwriting*.
As a longstanding regional broker with more than 30 years’ experience, Sorvio has stable and deep-rooted relationships with both its clients and insurer partners. The business is located in Salisbury, where it serves its client-base of SME businesses.
On completion, Sorvio will join Ethos Broking, where it will support Ethos’ expansion across the Southwest of England, providing a platform to further its geographic reach.
Sorvio was acquired by current owners and Directors Paul Hodgkinson and Ian Spalding in 2006, who have grown the business, establishing its reputation as a market leading broker in the area. Ian and Paul will continue to run the business alongside Richard Tuplin, who leads Ethos Broking as part of his role as CEO of Advisory Insurance Brokers Limited (AIBL).
Richard Tuplin, CEO AIBL said:
“This is a great opportunity for Ethos Broking to further its geographic reach with a high-quality regional broking business that is well-respected in its local area.
“Sorvio is a fantastic business that has flourished over the years thanks to its expert team and their focus on providing an exceptional service for clients.
“We’re very excited to welcome Ian, Paul and the team to the business and look forward to collaborating on future opportunities for growth in the region.”
Paul Hodgkinson, Director, Sorvio commented:
“Joining Ardonagh Advisory represents an enormous opportunity for us to develop Sorvio by becoming part of a larger proposition.
“Our team of experts will continue to provide the outstanding service they are well-known for, supported by a business that shares our values and dedication to client service.
“We’re very excited for the future and look forward to experiencing the many benefits that I know will come from being part of the Ardonagh Advisory platform.”
Joe Conway, M&A Director, Ardonagh Advisory said:
“This latest addition to our portfolio is further demonstration of how quality regional brokers see value in joining larger broking platforms such as Ardonagh Advisory.
“Not only can they receive support to help navigate the many challenges present in today’s market, but they can also benefit from support that will actively help their business to grow.
“If you’re thinking about taking the next step in your broking business’ journey, get in touch. We’re always open to supporting broking businesses to get to that next level, whatever that might be.”
*Subject to regulatory approval
Notes to Editors
Ethos Broking is a collection of like-minded brokers that share similar values but retain their own DNA.
With over 750 colleagues across more than 30 offices around the UK, we pride ourselves on delivering a unique offering which is built on close relationships and aligned cultures, whilst at the same time providing our brokers with the tools to grow independently. That success is clearly demonstrated through the £348 million annual GWP that we generated in 2022.
Ardonagh Advisory Holdings Ltd is The Ardonagh Group’s SME broking platform comprised of Bravo Networks, Ethos Broking, Footman James, Hera Indemnity, Lorega, Towergate, Towergate Health & Protection, Thompson & Bryan, Compass UK and Usay Compare brands.
With legacies which laid the foundations for the creation of The Ardonagh Group, these are advice-led, community-focused businesses with an unrivalled local footprint of experts across a wide range of sectors and specialisms, combined with national and international reach.
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 over 200 locations and a combined workforce of 10,000 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.
For over 30 years Sorvio has successfully provided a comprehensive range of commercial insurance products to many organisations, businesses, individuals and associations. The Sorvio team has years of experience across the insurance industry, excellent technical expertise, a wealth of knowledge and insurance solutions and a reputation for being easy to work with. At Sorvio, we look after clients across a wide range of industry including commercial and residential property, manufacturing, construction, professions, motor trade and vehicle operators, charity and community groups, consultants, retail, shops, offices, pubs, hotels and restaurants.
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