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HomeNEWSARDONAGH LOSS ON BENNETTS SALE

ARDONAGH LOSS ON BENNETTS SALE

Although new owner Right Choice said it had acquired leading specialist motorcycle insurer Bennetts for “an undislosed sum”, reluctant vendor Ardonagh Group has now admitted that the business was sold at a discount.

Ardonagh’s first-quarter accounts reveal that Right Choice paid £22.75m for Bennetts. Ardonagh had previously bought the broker from Saga for £26m last year, before the Competition and Markets Authority deemed the deal out of order and forced a disposal. 

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