Ardonagh’s MDS Brazil finalises acquisition of D’Or Consultoria

MDS Brazil, a subsidiary of the Ardonagh-owned MDS Group, has finalised the acquisition of D’Or Consultoria, a broker with expertise in health, dental, life insurance, and pensions, which is part of Rede D’Or São Luiz S.A.

This acquisition significantly enhances MDS Brazil’s offerings in health and benefits, strengthening its competitive position in the insurance and risk consulting sector.

The deal has met all contractual requirements, including receiving approval from CADE (Administrative Council for Economic Defence).

Valued at R$800 million (£123 million), the transaction was funded by The Ardonagh Group using its available liquidity.

With this expansion, MDS Brasil will oversee more than R$9 billion (£1.2 billion) in gross written premiums, reinforcing its status as a leading broker in Brazil across various sectors including insurance, reinsurance, benefits management, and risk consulting.

Jose Manuel Fonseca, CEO of the MDS Group, added: “We are delighted to announce the completion of the acquisition of D’Or Consultoria by MDS Brazil, a historic moment for us, which consolidates our position as one of the largest brokers in the Brazilian market and boosts the Brazilian strategy for the MDS and The Ardonagh Group.”

“The integration of both teams will promote the exchange of knowledge and experience, enhancing the quality of our solutions and customer service.”

MDS Brazil will provide a more extensive and differentiated portfolio for health and benefits, serving both its current clients and those of D’Or Consultoria. Over 900 employees from D’Or Consultoria will join the existing team at MDS Brazil, which currently employs 850.

This move not only broadens MDS Brazil’s client base, particularly in the benefits segment, but also enhances its talent pool with highly skilled professionals and additional technological resources. This development creates a significant opportunity to offer unique products and services in the Brazilian market.

Efforts will be focused on ensuring a seamless transition, with a strong commitment to maintaining high service levels for customers, employees, and partners.

Ariel Couto, CEO of MDS Brazil, will lead the integrated operations along with the executive teams from both organisations to ensure continuity of service and business growth.

This strategic acquisition aligns with MDS’s broader expansion plans in Brazil and Latin America, adding to the twelve previous transactions in Brazil and one in Chile over the past five years.

Couto said: “I welcome more than 900 new colleagues to the MDS Group. I am sure that together we will consolidate the company as one of the largest brokerage operations in the benefits segment in the Brazilian and Latin American markets.”

“We now have around 1,800 employees who share fundamental values, further enhancing our value proposition to clients who can now count on an even wider range of insurance and benefits services and products.”

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