A PYMNTS Company

UK’s CMA Investigates Ardonagh’s Atlanta Group and Markerstudy Merger

By  |  January 31, 2024

The Competition and Markets Authority (CMA) has officially launched an inquiry into the merger of Ardonagh-owned broker Atlanta Group and Managing General Agent (MGA) Markerstudy. Acting under section 96(2A) of the Enterprise Act 2002, the regulator aims to assess whether the merger could result in a “substantial lessening of competition within any market or markets in the UK for goods or services.”

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Initially announced on September 15, 2023, the acquisition was facilitated by an investment led by Pollen Street Capital and Bain Capital Special Situations, adding a layer of financial prominence to the transaction.

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    Venus Topco Limited, a subsidiary of Pollen Street, took the initiative by submitting the merger notice to the CMA, adhering to regulatory obligations surrounding significant mergers and acquisitions.

    Read more: UK’s CMA Launches Market Study Into Competition In Housebuilding

    The CMA’s involvement underscores its commitment to upholding fair competition and preventing anti-competitive practices within the UK business landscape. The inquiry will scrutinize the potential impact of the merger on competition within the markets, ensuring that consumers and businesses continue to benefit from a diverse and competitive marketplace.

    The Atlanta Group and Markerstudy merger is of strategic significance within the insurance and brokerage sector. The regulatory scrutiny by the CMA reflects a proactive approach to safeguarding competition and preventing monopolistic tendencies.

    Industry stakeholders and market participants will be closely monitoring the CMA’s inquiry, seeking insights into the possible implications of the merger on the competitive landscape. Ardonagh, Markerstudy, and their respective investors are expected to cooperate fully with the CMA throughout the regulatory process, addressing any concerns and providing the necessary information to facilitate a comprehensive evaluation.

    Source: Law 360