Ardonagh Europe announced that it has agreed to acquire Groupe Leader Insurance (GLI), a wholesale and multi-specialist broker based in France.
GLI, established in 2003 by Yoann Chery, is recognised as one of the top 10 brokers in the French market, with an initial focus on construction risk before expanding into specialist property and motor insurance.
GLI is headquartered in Paris and employs more than 350 staff in France and abroad. The company provides insurance solutions to individuals and small and medium-sized enterprises through both direct channels and a network of over 4,000 broker partners. In 2024, GLI managed €190 million in gross written premium.
Ardonagh Europe described the acquisition as part of broader strategy to expand its presence across the continent. The company already operates in Ireland, the Netherlands, Greece, Italy, Austria, and Switzerland.
Following the completion of the transaction, GLI will continue to operate under its existing brands and leadership team. Chery will become a shareholder in Ardonagh and will lead the group’s French operations, while remaining president of GLI’s holding company, Generation Insurance. Cyrille de Montgolfier will continue as chairman of the supervisory board.
“The French insurance market is one of the largest in the world, with a rich tradition and a level of sophistication that makes it particularly attractive for Ardonagh,” Conor Brennan, CEO of Ardonagh Europe said.
Brennan also noted that Ardonagh has been monitoring the French market for several years and sees the acquisition as a key step in building a leading insurance distribution platform in Europe.
“Ardonagh will enable our group to increase its capabilities thanks to its scale – placing close to $18 billion of annual premiums – and accelerate strategic growth in France,” Chery said.
GLI’s partners at Abenex were also acknowledged for their support during the company’s recent growth phase, with Chery expressing appreciation for their collaboration since 2021.
Ardonagh’s latest acquisition is just the latest move in its continued expansion. Earlier this year, Ardonagh Advisory entered a partnership with PremFina to enhance premium finance solutions for brokers and their clients.
In May, Ardonagh Group also completed a £2.5 billion equity investment led by existing shareholders Madison Dearborn Partners and HPS Investment Partners, with new investors Mubadala Investment Company and CDPQ also participating. This investment valued Ardonagh at approximately £7 billion and is intended to support continued expansion and strategic acquisitions in the insurance sector.
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