Announcement: change of ownership for Rural Insurance

Primary Group owned Rural Insurance Group Limited confirms the sale of its trade and assets to The Ardonagh Group.

Rural insurance Group Limited confirmed the sale of its trade and assets to Geo Underwriting Services Limited, part of The Ardonagh Group.

Harrogate based Rural Insurance is a specialist insurance provider dedicated to rural and agricultural communities. Working with over 600 UK intermediaries, it offers brokers access to a range of products including Farm Combined, Farm Motor, Rural Business Motor, Hailstorm and Livestock insurance.

Commenting on the announcement, David Cahoon, Managing Director of Rural Insurance said:

“At Rural, we’re excited to be joining Ardonagh’s specialist MGA portfolio alongside many well respected and likeminded brands. We look forward to harnessing the scale and collective power of the UK’s largest independent insurance broking platform to further enhance our commitment to helping UK brokers serve the agricultural market, from the very small to the very large.”  

Tim Smyth, CEO Rural and Commercial Holdings Limited, added:

“This deal is a great move for Rural, and The Ardonagh Group is the right home for its future. Alongside Ardonagh’s existing agriculture portfolio, Rural will add another well-established business with strong broker relationships, providing greater choice for customers in the rural and agriculture communities.”

Derek Coles, CEO - MGA Binders and Facilities for The Ardonagh Group, said:

“Rural perfectly encapsulates what we strive for Ardonagh’s specialist MGA brands to be – firmly embedded in the community it serves and renowned not only for its products across farming, rural and associated motor lines, but the expertise, service model and value it delivers to customers.”

“The addition of Rural to the family further strengthens our commitment to serving the UK’s regional broking market with specialist solutions from dedicated experts and trusted brands.”

KPMG Corporate Finance acted as lead financial advisor to Rural Insurance on the sale.