Latest deal announced by Ardonagh;
The Ardonagh Group (“Ardonagh”) announces its expansion into Greece following its agreement to acquire a majority shareholding in SRS Group of Companies (“SRS”). SRS was founded in 2019 and is based in Athens. Its businesses include a leading independent wholesale reinsurance broker and an MGA platform. Operating across Greece, Israel, Cyprus, and the Balkans, SRS provides a B2B offering
placing complex risks in the Greek and international markets. SRS has experienced sustained growth and achieved approximately €11.6 million in turnover in 2022.
The acquisition provides a unique opportunity to partner with a fast-growing reinsurance business serving the southern Mediterranean region, strengthening Ardonagh’s presence in the region. Founder and CEO of SRS, Konstantine Antonopoulos, remains at the helm and maintains a significant stake in SRS Group as part of the transaction. SRS Group will be acquired by Ardonagh Europe, led by CEO Conor Brennan, as part of its ambitious plan to penetrate new European markets.
CONTINUED EXPANSION
This acquisition follows Ardonagh’s recent announcement of its acquisition of two brokers based in the Netherlands, Klap Verzekeringsmakelaar* and Classicus, underpinning the Group’s international growth strategy and strengthening its proposition in the European insurance market.
Conor Brennan said: “SRS perfectly encapsulates what we strive for all of Ardonagh’s brands to be: a business firmly embedded in the communities it serves. We will look to enhance SRS’ strong growth by investing resources and proven group capabilities, so that Konstantine and his team, can collaborate with their new Ardonagh colleagues across the world, bringing additional reinsurance solutions to their clients now and in the future.”
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