What that means in practice is that AGP brings together some of the best-in-class businesses from across the world, harnessing their entrepreneurial energy, brand success and deep relationships - and amplifying them to increase growth and impact.

Each business retains its independence, but gets the resources, connections and group capabilities of Ardonagh behind it. MDS Group is the latest business to join the AGP family, in what’s become a global federation of businesses with a combined revenue of over £100 million, 60 offices and over 1,100 employees within the space of a year. 
 
 
A global federation  

AGP already includes Resilium, Australia’s largest independently owned intermediary network, Ethos Broking Australia, Hemsley Wynne Furlonge, a specialist M&A insurance broker for transaction risks, and AccuRisk Solutions – a leading independent MGU in the United States specialising in the fast growing medical-stop loss segment.

What attracted us to MDS was not just its scale and footprint across Brazil, Angola, Mozambique, Malta, Portugal and Spain – but its world class reputation for client service, innovation and professionalism that has delivered outstanding outcomes for clients over more than 30 years.

We don’t just invest in platforms, we invest in people - and we instantly recognised in José Manuel Fonseca and his team an ambition and integrity that matched our AGP ethos. We put our clients first every single time, we believe in our people, and we want to remain fiercely independent.

We expressed our interest, and then shared our story with José Manuel and his core team. We knew that if the MDS team believed in what we are trying to achieve in Ardonagh then we would be able to come to a deal with the current shareholders. If we find a team that we want to work with, and who wants to work with us, then we will do everything we can to get a deal done.

Sonae and Suzano were excellent shareholders and experienced deal makers, so whilst the negotiations were robust it was a highly professional and efficient process from start to finish.

MDS and José Manuel will now have the support, resources and M&A capabilities to take their vision for growth forwards – and AGP have an amazing platform and brand that gives us a presence in new territories and new, dynamic markets.  

Opportunities ahead 

 
The Ardonagh Group does not have any investments in MDS’ areas of Portugal, Brazil, Mozambique and Angola, and from that perspective means that there is no conflict of service offerings in these territories.

There is, however, a crossover of products across different parts of the Group which we see as an opportunity to bring together the best products and services to win more clients.

MDS is already a valued client of Ardonagh’s London wholesale businesses Ed Broking and Price Forbes and we look forward to creating further revenue opportunities for both MDS and broader Ardonagh Group. Also other areas of MDS such as Risk Consulting Group and HighDome have excellent opportunities to offer the services to a much broader customer base.

MDS strengthens our connection with Brokerslink, together with Ed Broking and Piiq which joined Ardonagh Specialty in November. Clients need independence, choice and local expertise at scale - and that’s exactly what Brokerslink can provide.

AGP is all about global strength and local delivery. We’ve got the scale and ability to leverage buying power and investments across a larger premium pool – and we’ve got top global talent joining forces to grow their businesses under our umbrella. As a whole, we are stronger than our parts - and we’ve got the power to really challenge the status quo.