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The Ardonagh Group to buy insurer broker Swinton for 165 million pound

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The Ardonagh Group to buy insurer broker Swinton for 165 million pound

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LONDON (Reuters) - The Ardonagh Group said on Thursday it has agreed to buy insurance broker Swinton Group from French mutual Covea Group for around 165 million pounds.

Ardonagh said it would fund the deal with committed financing from its existing bank group and "cash from monetising certain Swinton assets".

(Reporting by Simon Jessop, editing by Huw Jones)

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