Ardonagh Europe builds Dutch platform with acquisition of Classicus
Ardonagh Europe, part of The Ardonagh Group, has announced it has agreed to acquire* high net worth broker Classicus, strengthening the Group’s growing presence and scope in the Netherlands.
Founded in 2004, Classicus is headquartered in Amsterdam and provides a range of specialist high net worth products for classic and luxury cars, yachts, art collections together with other specialist high net worth products. Its businesses also include wholesale broker, Classicus Europe and London-based Classicus Ltd, which comprises the firm’s non-EU wholesale business, its UK high net worth retail business and UK corporate clients business.
This acquisition follows Ardonagh’s recent announcement of its intention to buy Klap Verzekeringsmakelaar (“Klap”) an independent, specialist commercial and personal lines broker based in Amsterdam. This expansion of Ardonagh’s footprint in the Netherlands underpins the Group’s international growth strategy, strengthening its proposition in the European high net worth insurance market.
Conor Brennan, CEO Ardonagh Europe said: “Classicus is a highly respected broker and already enjoys a firm relationship with Léons as a member of Brokerslink, the global brokerage company co-founded by Léons Group.
“The synergies between the two entities will make for a highly beneficial partnership, with Classicus continuing to tap into this rich pool of expertise and talent to grow their niche business across European geographies.”
Sunny Leons, CEO of the Léons Group said:
“With the acquisition of Classicus, Léons Group continues to position itself as a European growth platform, taking a significant first step towards establishing new geographies, as Classicus marches forward with a seamless fit to expand their service offering to European brokers.”
Bart-Jan Kastrop, the founder and Managing Director of Classicus said:
“We are very excited to begin a new chapter for Classicus as we develop our bespoke and niche concept across new territories and partners.
“We strongly believe that Léons, with the capital and resources of Ardonagh Europe behind them, is the right partner for our growth ambition.
This new partnership will give us the independence to continue to reinvent our specialist line of business so that we can continue to provide our clients with the very best expertise and products available on the market.”
* Subject to regulatory approval
Notes to Editors
THE ARDONAGH GROUP
The Ardonagh Group is one of the world’s leading independent insurance distribution platforms. We are collection of best-in-class entrepreneurial and specialist brands with a network of more 150 locations and a combined workforce of nearly 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.
Ardonagh Europe is part of Ardonagh’s International platform which is a platform for growth in the region and rest of the world. It includes Arachas, the Republic of Ireland’s largest commercial insurance broker delivering exclusive insurance solutions through a multi-channel distribution strategy, MDS Group, a specialised international insurance broker, headquartered in Portugal, Envest, an insurance investment and distribution business with a diverse portfolio of brands and Australian footprint, AccuRisk Solutions, a US-based MGA focused on medical stop loss products, and HWF Partners, a fast-growing specialist M&A insurance broker operating out of the UK and Germany.
Classicus Private Insurance, established in 2004, is a high net worth broker, both retail and wholesale, with offices in The Netherlands and the UK. For their European and international clients they provide tailored insurance solutions. They cover the financial risks associated with the possession of high-end homes, classic and luxury cars, yachts, jewellery and Fine art collections both commercially and privately owned together with other specialist high net worth products.
Classicus also provides insurance solutions to art dealer, galleries, museums and classic car dealers. The majority of their clients are based in the EU and the UK.
In addition to tailored insurance solutions, clients can count on excellent service and efficient, fast claims handling. No unnecessary exclusions, incomplete coverage, or restrictive conditions: in short, a hassle-free peace of mind approach is what makes Classicus unique.
THE LĖONS GROUP
Léons, founded in 1951, is one of the leading brokers in The Netherlands in placing complex risk using domestic co-insurance market and global offerings by using other (international) markets like Lloyds.
Clients include financial institutions, real estate funds, hospitals, large trading companies, entertainment, and retail companies. Leons advises all sectors of business, operating domestically and internationally.
Since day one, Léons have followed a referral-only policy for new clients, placing our focus on our clients at the core of our DNA.
A significant part of our clients has global footprints. Léons has developed an excellent service offering, working in close contact with our Brokerslink partners to service this segment of our client base worldwide. This enables us to globally offer services to our customers, while maintaining the focus on quality and know-how in every local market where our clients are active.
The Léons family has always centred on long term goals over short- term success. This is reflected in every part of the company. Long-standing relationships with our clients, underwriters, colleagues, and other partners make Leons one of the most professional, stable and trustworthy insurance brokers active in the Dutch market.
Besides Léons insurance broker service, Léons has a dedicated consultancy department, providing advisory services. The advice offering covers complex risks such as risk management, pension schemes, complicated claims and IPO’s. The core of this consultancy service is the fact that Léons only present advice at that moment, while existing intermediaries attend to the placement and handling.
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