The Ardonagh Group completes acquisition of Dutch insurance firm Klap
Further to its announcement in April, The Ardonagh Group (“Ardonagh”, “The Group”) confirms it has completed its acquisition of specialist commercial lines insurance broker, Klap Verzekeringsmakelaar (“Klap”).
Founded in 1854 and based in Amsterdam, Klap advises SME companies on employee benefits, insurance, and pensions, distributing over €100m of GWP annually.
The business, which will continue to be led by Klap’s current CEO, Jorg Roodbeen, is a key player in the Dutch insurance market, and has achieved high levels of growth in recent years.
The transaction marks an exit for Nedvest, the family office, which backed Klaps’ growth by supporting overall development of the business, including its successful acquisition strategy.
Klap is acquired by Ardonagh Europe, through its subsidiary Ardonagh Netherlands BidCo B.V., (“Ardonagh Netherlands”), funded by existing capital.
Ardonagh Europe, led by CEO Conor Brennan, landed in the Dutch market in 2022, welcoming the Léons Group as part of its plan to expand into new European markets.
Conor Brennan commented: “Klap is a real specialist and leader in the SME insurance market with a wealth of experience within the team. We are excited to support Klap as they stand alongside our other highly respected and long-standing franchise Léons to extend their insurance excellence even more widely to the European market.”
Jorg Roodbeen added: “We are extremely grateful for the support of Nedvest over the years and are thrilled to be joining Ardonagh Europe, where we will work alongside a host of leading industry brands. I look forward to leveraging the unique collaboration of Klap and Léons as we pursue new and exciting business opportunities.”
Tim Kreté, Partner at Nedvest said “We wish the management at Klap the very best for the future. Under this team the business has grown and strengthened its formidable position as the Netherlands’ leader in SME insurance. It has been a pleasure to have worked with them and we look forward to seeing the business develop further in the future.”
THE ARDONAGH GROUP
The Ardonagh Group is the UK’s largest independent insurance distribution platform and a top 20 broker globally. We are a collection of best-in-class entrepreneurial and specialist brands with a network of more than 200 locations and a combined workforce of more than 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.
Klap is an Amsterdam-based insurance broker founded in 1854. With more than 100 specialists, we provide risk advice and insurance solutions for our clients with a focus on the business market and specialist groups. Where possible, Klap offers tailor-made solutions. Klap also distinguishes itself with an online strategy supported by IT. In addition to organic growth, Klap has been growing for years through an active acquisition strategy.
Klap - Zakelijke Verzekeringen
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