M&A Deal Summary

Argo Group Acquires Heritage Underwriting Agency

On April 2, 2008, Argo Group acquired insurance company Heritage Underwriting Agency for 272M USD

Acquisition Highlights
  • This is Argo Group’s 4th transaction in the Insurance sector.
  • This is Argo Group’s largest (disclosed) transaction.
  • This is Argo Group’s 1st transaction in the United Kingdom.

M&A Deal Summary
Date 2008-04-02
Target Heritage Underwriting Agency
Sector Insurance
Buyer(s) Argo Group
Deal Type Add-on Acquisition
Deal Value 272M USD
Advisor(s) Peel Hunt LLP (Financial)
Clyde & Co. (Legal)

Target

Heritage Underwriting Agency

London, United Kingdom
website
Heritage Underwriting Agency, Plc is a specialist insurer based in London. Its business is focused on underwriting worldwide property and non-US liability risks.

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Buyer(S) 1

Buyer

Argo Group

Pembroke, Bermuda

website

Category Company
Founded 1986
Sector Insurance
Employees1,206
Revenue 1.8B USD (2022)
DESCRIPTION

Argo Group offers a full line of products and services designed to meet the unique coverage and claims-handling needs of businesses. Argo Group was founded in 1986 and is based in Pembroke, Bermuda.

DEAL STATS #
Overall 4 of 7
Sector (Insurance) 4 of 7
Type (Add-on Acquisition) 4 of 7
Country (United Kingdom) 1 of 1
Year (2008) 1 of 2
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-14 PXRE Group

Pembroke, Bermuda

PXRE Group Ltd. is a provider of reinsurance products and services to a worldwide marketplace. PXRE also provides marine, aviation and aerospace products and services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-09-29 Insight Insurance Services

Geneva, Illinois, United States

Insight Insurance Services, Inc. is a specialist in professional liability insurance for accounting professionals, architects, engineers and insurance agents.

Buy -
Mergr

Product

Company

Legal