The Ardonagh Group has announced that it has agreed to acquire Klap Verzekeringsmakelaar, a specialist commercial lines insurance broker based in the Netherlands, from the family office, Nedvest.

Financial details of the deal were not disclosed.

Led by Clapp CEO Jörg Rudbein and supported by Nedvest partner Tim Crate, Clapp has achieved high levels of growth in recent years, strengthening its position as a key player in the Dutch insurance market, Ardonagh said in a statement.

Clapp’s growth was achieved through a combination of successful acquisition strategies and maintaining operational excellence to ensure strong organic growth.

Founded in 1854 and based in Amsterdam, Clapp advises SME companies on employee benefits, insurance and pensions, delivering over €100 million in gross written premiums annually.

Clapp will be acquired by Ardonagh Europe, through its subsidiary Ardonagh Netherlands BidCo BV, financed from Ardonagh’s available funds. Clapp’s management team will remain with the business.

Ardonagh Europe, led by CEO Conor Brennan, welcomes Lyons Group as part of plans to enter the Dutch market in 2022, entering new European markets. Lyons’ Dutch roots and strong reputation in the market, for more than 70 years, have enabled Ardonagh Europe to build a portfolio of brands with insurance broker companies that are leaders in their target markets.

With the addition of Clapp, Ardonagh Europe will tap into over 230 years of Dutch insurance excellence, as delivered by two highly respected and long-standing franchisees with high-quality portfolios of commercial lines businesses.

“This is a highly complementary acquisition, which aligns nicely with our Group’s footprint in international and European markets. Alongside Lyons’ vast expertise, Clapp further diversifies our portfolio and our customer base in the Netherlands, creating a strong platform to accelerate our growth ambitions in the region,” commented CEO Brennan.

“Today’s announcement marks the beginning of a new and exciting chapter for all of us. In Ardonagh we have found a strategic partner supporting our ambitions. Our clients and colleagues will benefit from this,” said Clapp CEO Rudbein.

“I am delighted that two insurance brokers with a long history have found each other with the support of a strong international shareholder. The combination of Klap and Léons is the result of a unique collaboration. In recent years, we have been on a great journey to put ourselves on the map as a leading advisor for SMEs,” added Rudbin.

“We are confident that Ardonagh is the ideal partner to take Clapp to greater heights on their continued journey,” said Kreté, partner at Nedvest.

Ardonagh Group

Ardonagh Group is the UK’s largest independent insurance distribution platform and operates a top 20 broker globally, with a network of over 150 locations and a combined workforce of over 9,000 people. Ardonagh Europe is part of Ardonagh’s international platform. Ardonagh Europe’s business units include: Arachas, the largest commercial insurance broker in the Republic of Ireland; MDS Group, a Portugal-based specialized international insurance broker; Envest, an insurance investment and distribution business with a diverse portfolio of brands and an Australian footprint; AccuRisk Solutions, a US-based MGA focused on medical stop loss products; and HWF Partners, a specialist M&A insurance broker operating out of the UK and Germany.

Source: Ardonagh Group

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