Ardonagh appoints new Price Forbes, Bishopsgate CEOs for next chapter of growth

Ardonagh Specialty, part of the UK insurance intermediary Ardonagh Group, has appointed a new leadership team that will be responsible for the next chapter of growth for its independent specialist brokers Price Forbes and Bishopsgate Insurance Brokers.

Antony Erotocritou has been appointed managing director of Ardonagh Specialty, expanding his responsibilities as chief financial officer to oversee operations and change across the business. He has been with Ardonagh since 2016 and held the role of group finance director.

Richard Peers has been promoted from deputy CEO to CEO of Price Forbes. He will look to further enhance the growth opportunities created by the trading group structure in Price Forbes. Peers has over 30 years’ experience across London, Bermuda and the USA and most recently led Price Forbes’ property, professional and financial lines, casualty, life science and healthcare teams.

Furthermore, Greg Ferguson will take on the new role of CEO, international at Price Forbes with a remit to drive forward its regional strategy and examine opportunities for acquisitions, joint ventures and strategic hires.

Ferguson joined Price Forbes in 2015. Throughout his career, he has worked as both a Lloyd’s underwriter and broker in a wide variety of specialisms, working with clients across Latin America, Europe, Scandinavia, the Middle East, Asia Pacific and parts of Africa.

Graham Kilby has been appointed CEO of Bishopsgate Insurance Brokers, leading operations and the remit to expand in the programmes and binders arena and energy as well as the UK focussed specialty lines. He joined the business in 2017 and since then has built out the broker’s North American binder business.

Finally, Jonathan Turnbull will take on a new role on the specialty executive committee. As corporate development director, Turnbull will focus on identifying and executing new growth initiatives across both brands. He joined the business in 2018 and was CEO of Bishopsgate Insurance Brokers. He has broad experience having worked at a senior level in the intermediary sector for over 25 years.

Specialty is one of Ardonagh’s four platforms, alongside Retail, Advisory and Ardonagh Ireland. It recorded £152 million pro forma income in the 12 months to 31 March 2020, and 10.7 percent organic growth for the quarter. Ardonagh also announced a committed £300 million M&A facility from a range of institutional backers in July 2020.

James Masterton, the new executive chair and CEO of Ardonagh Specialty, said: “Since Price Forbes became a founding part of The Ardonagh Group alongside fellow specialist Bishopsgate, both businesses have grown from strength to strength, investing in technology and talent to ensure our clients are best served by truly independent brokers focused on their individual needs."

He added: “As a holding company, Ardonagh Specialty is the platform from which we will execute and direct the investment needed for the next chapter of growth for Price Forbes and Bishopsgate across open market, programmes and international broking. Bolstered with the best talent, technology and products, we are poised to continue delivering solutions which allow our clients to succeed across a vast array of sectors and regions into 2021 and beyond.”