Ardonagh’s MDS Brazil to acquire D’Or Consultoria for £123m

MDS Brazil, a subsidiary of Ardonagh-owned MDS Group, has revealed it intends to acquire D’Or Consultoria, a health, dental, life insurance, and pensions broker from Rede D’Or Sao Luiz. S.A. (Rede D’Or).

The transaction, which has a consideration of R$800 million (£123 million), is subject to approval by the Administrative Council for Economic Defense, including the granting of all regulatory approvals.

Ardonagh noted that it intends to fund the acquisition via the Group’s available liquidity.

Upon completion, Ariel Couto, CEO of MDS Brazil, will reportedly lead the joint operation.

Meanwhile, the D’Or Consultoria Executive team, led by CEO Bruno Iannuzzi, will remain with the company, ensuring continuity of service to current customers and the continued growth of the business.

According to Ardonagh, MDS Brazil currently manages around R$4 billion (£0.62 billion) in premium and with the future incorporation of D’Or Consultoria will be one of the major players in the corporate benefits segment.

“D’Or Consultoria has a portfolio of primarily health plans, serving approximately 2.5 million users. The combined operation will manage more than R$8 billion (£1.3 billion) in gross written premiums, creating one of the largest brokers in Brazil,” the firm added.

Jose Manuel Fonseca, CEO of MDS Group, commented, “I am thrilled to welcome this exceptional team of benefits experts into MDS. Their deep industry knowledge and commitment to service excellence combined with the scale of MDS globally will unlock many new opportunities to deliver value to our customers in Brazil.”

Ariel Couto, CEO of MDS Brazil, said, “This transaction marks an exciting evolution of our regional strategy fortifying our footprint in the Latin American market with cutting-edge solutions tailored to our clients’ needs.

“The arrival of D’Or’s experienced leadership team and proprietary technology will significantly elevate our benefits and health proposition. Drawing on their legacy in the market and combining it with our own, MDS is poised to solidify our position as one of the leading brokers in Brazil and Latam.”

Bruno Iannuzzi, CEO of D’Or Consultoria added, “We are excited to be announcing the next chapter for D’Or today, one which we believe will deliver long-term value for our people, customers, and partners.

“The transaction will allow for a differentiated and more complete offering to our clients and market in general while contributing to the development of the economy and society of one of the biggest economies and insurance markets in the world.”

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