The latest acquisition news from Ardonagh, this one is from South America;
MDS Brasil, a subsidiary of Ardonagh-owned MDS Group (“MDS”), confirms completion of the previously announced acquisition of D’Or Consultoria, a broker specializing in Health, Dental, Life Insurance, and Pensions, which is part of Rede D’Or São Luiz S.A. The transaction expands MDS Brasil’s Health and Benefits offerings, reinforcing its position in the insurance and risk consulting market.
All contractual requirements, including the approval of CADE (Administrative Council for Economic Defence) have been fulfilled.
The transaction, which has a consideration of R$800 million (£123 million), was financed by The Ardonagh Group through available liquidity within the Group. The combined operation will manage over R$ 9billion (£1.2 billion) in gross written premiums, solidifying MDS Brasil’s position as one of the largest brokers in the country across insurance, reinsurance, benefits management, and risk consulting.
With this acquisition, MDS Brasil enhances its value proposition for Health and Benefits, offering a more comprehensive and differentiated portfolio to both existing clients and those from D’Or Consultoria.
Over 900 D’Or Consultoria employees will be integrated into MDS Brasil, which currently has 850 employees.
With the acquisition, as well as expanding its client portfolio predominantly in the benefits segment, MDS Brasil will boost its talent pool of highly qualified professionals and additional technological resources to those existing in the company, creating a unique opportunity to develop a differentiated product and service proposal for the Brazilian market.
The teams will work to ensure a smooth, efficient transition, with a focus on continued care for customers, employees and partners, ensuring that they continue to receive the highest level of service and support.
Ariel Couto, CEO of MDS Brasil, will lead the combined operation together with the executive team of the two companies, to ensure the continuity of service to current clients and the growth of the business.
This acquisition aligns with MDS’s expansion plan in Brazil and Latin America, adding to the twelve previous operations in Brazil and one in Chile over the past five years.
Jose Manuel Fonseca, CEO of the MDS Group, commented: “We are delighted to announce the completion of the acquisition of D’Or Consultoria by MDS Brasil, a historic moment for us, which consolidates our position as one of the largest brokers in the Brazilian market and boosts the Brazilian strategy for the MDS and The Ardonagh Group. The integration of both teams will promote the exchange of knowledge and experience, enhancing the quality of our solutions and customer service.”
Ariel Couto, CEO of MDS Brasil, added: “I welcome more than 900 new colleagues to the MDS Group. I am sure that together we will consolidate the company as one of the largest brokerage operations in the benefits segment in the Brazilian and Latin American markets. We now have around 1,800 employees who share fundamental values, further enhancing our value proposition to clients who can now count on an even wider range of insurance and benefits services and products”.
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