Ardonagh Advisory completes acquisition of Usay Group Limited
01 September 2021
Ardonagh Advisory Holdings Ltd, a subsidiary of The Ardonagh Group (“Advisory”, “the Group”), today announces it has acquired Usay Group Limited (Usay), one of the largest consumer Personal Medical Insurance and Protection Insurance brokers in the UK.
Since 2008 Usay has built an impressive reputation and profile in the market for independent brokerages for consumer health and protection and insurance. With headquarters in Cirencester and a team of 195, the business brings an enviable organic growth capability to the Ardonagh Advisory platform where it will complement existing offerings from Towergate Health & Protection, winner of Adviser of the Year at the 2019 and 2020 Health Insurance & Protection Awards.
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, continues to head up the Usay brand as CEO. Meanwhile Usay Directors Kim Tomkins and Andrew Hall will continue in a consultant capacity over the next six months to oversee the transition into Ardonagh Advisory, before moving on to explore new opportunities.
Commenting on the announcement, Rob Worrell, CEO of Ardonagh Advisory said:
“Today’s acquisition comes at a crucial time not only for us as a business, but for our clients and the wider industry; it has never felt more important to ensure health and wellbeing are prioritised. Bringing Mark and the Usay team into the Ardonagh Advisory family is a huge coup for us, further strengthening our already renowned capability in the consumer health and protection space and I look forward to seeing how we can work together to innovate in our client delivery.
“It’s thanks to the sheer dedication and client focus of colleagues across the Ardonagh Advisory brands that we continue to be the chosen home for sought-after businesses like Usay, who thanks to their reputation and strength are in a position to be choosy and select only the best route forward for their business and their people. I am proud to see that trend strongly continue despite the challenges of the past 12 months.”
Iain Laws, CEO of Towergate Health & Protection, added:
“Today is a real celebration for us as we welcome onboard a business that has been at the top of our wish list for a long time, cementing Ardonagh’s position as the home of one of the UK’s leading health and protection brokerages.
“The Usay team consists of an incredibly talented set of individuals who I know will only enhance the excellent capability we already benefit from through our knowledge and expertise across Towergate Health & Protection. I am incredibly excited to see how the two businesses can work alongside one another to the benefit of our clients.”
Mark Noble, CEO of Usay, commented:
“My fellow shareholders and I are delighted with the move into such a dynamic, innovative and exciting group of businesses among the Ardonagh Advisory platform, which will allow us to fast-forward into the next chapter of our strategic development.
“I’d like to take this opportunity to thank Kim Tomkins and Andrew Hall, whose invaluable support in driving forward the business for over a decade, and in particular with the move into Ardonagh Advisory, has been crucial to our success. I’m extremely grateful for their offer of continued consultancy over the next few months while we settle into our new home and transition forward into the next thrilling phase of our journey.”
Today’s acquisition follows the acquisitions of two brands – Chase Templeton in 2017, and The Health Insurance Group in 2018 – which were subsequently integrated to form part of Towergate Health & Protection.
Completion of the transaction is subject to regulatory approval.
Notes to Editors
Ardonagh Advisory Holdings Ltd is The Ardonagh Group’s SME broking platform comprised of Broker Network, Compass Network, Ethos Broking, Footman James, Towergate Insurance Brokers, Towergate Health & Protection, Towergate Riskline and Your Insurance 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.
TOWERGATE HEALTH AND PROTECTION
Towergate Health & Protection, which has its registered office in West Park House, Southampton, combines a whole of market, independent insurance broking service for businesses and individuals throughout the world with specialist health and wellbeing advice and solutions. The company aims to help clients manage their health risks and improve the wellbeing of themselves, their families and employees, resulting in a healthy, motivated and productive workforce.
Having launched in 2008, Usay is a market leading comparison service for health insurance, life insurance and income protection, removing the hassle and confusion from comparing policies and providing the best quotes on the market. With a head office in South Cerney in Gloucestershire and further offices in Bristol and Victoria, London, Usay focuses on making cost-effective private medical care, straightforward and accessible.