Ardonagh buys majority stake in Hong Kong broker RMIB

The Ardonagh Group has acquired a bulk involvement successful Hong Kong-based institution Risk Management Insurance Brokerage (RMIB).

The nonstop size of the involvement and different fiscal details were not disclosed.

Established successful 1996, RMIB advises clients connected worker benefits, spot and casualty (P&C), transport risks and selected planetary programmes.

Ardonagh main commercialized serviceman Des O’Connor said: “Ardonagh sees existent accidental successful Asia and request continues for local, autarkic broking services. RMIB represents the benignant of steadfast we worth partnering with – trusted, technically susceptible and highly respected wrong its market. We are pleased to invited Bie and Danny and look guardant to adjacent collaboration arsenic we proceed to heighten our Hong Kong beingness and lawsuit offering together.”

RMIB volition stay nether the absorption of Bie Tong and Danny Yao.

Both directors volition proceed to oversee the institution and spouse with Ardonagh connected collaboration efforts, insurer relationships and concern development.

The summation is acceptable to grow Ardonagh’s scope of services successful worker benefits and specializer hazard advisory wrong the region.

It builds connected the company’s existing portfolio of Hong Kong investments, which see PSC HK, Charter Gilman Insurance Brokers, Charter-Union Insurance and Trans-Pacific Insurance Brokers.

In July past year, Ardonagh besides took a bulk involvement successful Hong Kong’s Apex Insurance (Holdings).

Apex, established successful 1988, serves tiny and medium-sized enterprises with broking and bureau services focused connected wide liability, mishap and health, and spot damage.

PSC HK Insurance Group managing manager Hei Wong said: “Bie and Danny are good regarded crossed the Hong Kong security market. Their summation strengthens our level done experience, capableness and shared values. We spot meaningful opportunities to collaborate and turn unneurotic arsenic portion of the Group.”

"Ardonagh buys bulk involvement successful Hong Kong broker RMIB" was primitively created and published by Life Insurance International, a GlobalData owned brand.

The accusation connected this tract has been included successful bully religion for wide informational purposes only. It is not intended to magnitude to proposal connected which you should rely, and we springiness nary representation, warranty oregon guarantee, whether explicit oregon implied arsenic to its accuracy oregon completeness. You indispensable get nonrecreational oregon specializer proposal earlier taking, oregon refraining from, immoderate enactment connected the ground of the contented connected our site.