Covéa sells Swinton group broker to Ardonagh Group

Ardonagh Group has acquired Swinton Group from Covéa for the sum of 165 million GBP (215 million USD).

Swinton Group, is a broker specializing in the distribution of motor, home and business insurance policies. In recent years, the group has recorded a decline in its turnover owing to the digitization of the UK market. This decline in activity forced the company to reduce the number of its offices in the United Kingdom.

The digitization process it had undertaken cost 45 million GBP (58 million USD).

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