Ardonagh Advisory Holdings has exchanged contracts for the purchase of Usay Group, a consumer personal medical insurance and protection insurance brokers headquartered in South Cerney in Gloucestershire, with offices in Bristol and London.
Established in 2008, Usay employs 195 people and last year generated revenue of £18.4 million. Upon completion, Usay will operate as part of the Ardonagh Advisory platform, complementing existing offerings from Towergate Health & Protection.
Iain Laws, chief executive of Towergate Health & Protection, will lead both businesses. Mark Noble, currently managing director at Usay having joined the business from Aviva in 2019, will continue to head up the Usay brand as chief executive.
The acquisition follows two previous acquisitions – Chase Templeton in 2017, and The Health Insurance Group in 2018 – which were subsequently integrated to form part of Towergate Health & Protection.
Rob Worrell, chief executive of Ardonagh Advisory said: “It’s great to be continuing the growth story of Ardonagh Advisory today, which I’m proud to say has remained uninterrupted throughout the past 12 months thanks to the strength and resilience of the group and the dedication and client-focus that colleagues across our brands continue to show every day. Usay is a business we have long admired, so we are thrilled to be announcing our intentions to bring them into the family, expanding our offering in the health arena and unlocking opportunities for innovation.”
Laws added: “The addition of such a strong consumer brand as Usay cements Ardonagh’s position as the home of leading health and protection brokerage. The impacts of the pandemic have reinforced the need and importance of health, wellbeing and protection cover, and we are looking forward to supporting the Usay team in their quest to help even more clients across the UK to benefit from Usay’s advice and support in their health, life and protection insurance needs.”
Date published: May 11, 2021