Accenture | June 22, 2020
Accenture (NYSE: ACN) and Sopra Steria are helping Covéa, France's largest property and casualty insurer, with its finance transformation program as part of a four-year joint agreement.
The program aims to modernize and simplify the insurance group’s finance function across its three notable brands — MAAF, MMA and GMF. Together, Accenture and Sopra Steria will help Covéa converge three separate accounting systems into one integrated platform, which will better integrate with other systems across the business and improve the user experience for finance employees.
MDS Group | December 24, 2021
The Ardonagh Group today announces that it has agreed to acquire MDS Group, a leading insurance broker and risk management advisor across the Portuguese-speaking world and Europe.
Headquartered in Porto, Portugal, MDS has offices in Brazil, where it is the country's largest independent broker, as well as Angola, Mozambique, Spain, and Malta. It is the only Portuguese Lloyd's Broker.
MDS employs 900 colleagues and recorded revenue of €74.8 million (£65 million) in the 12 months to 30 June 2021. MDS manages over €500 million in insurance premiums for 1.2 million private and corporate clients each year.
Ardonagh intends to fund the acquisition with a combination of equity and debt. MDS will be acquired by Ardonagh Overseas Investments Ltd and operate as part of Ardonagh Global Partners.
In addition to its core broking operations, spanning property & casualty, health, retail and wholesale, MDS operates Highdome PCC in Malta, offering sophisticated alternative solutions to the traditional insurance market including captive and reinsurance solutions to large clients. Completing MDS' offering is Risk Consulting Group (RCG), a multinational risk management consultancy.
MDS is also the founding member and a shareholder of Brokerslink, a network of brokers and speciality risk and consulting firms operating in 122 countries.
Upon completion, Ardonagh Global Partners will acquire 100% of the issued shares of MDS from its two shareholders, Sonae Group and IPLF Holding. The management team led by MDS Group Global CEO José Manuel Fonseca will remain with the business and continue to lead an expansive growth plan in all of the MDS territories.
"Having considered our future very carefully, we saw in The Ardonagh Group and its leadership a perfect match for our vision and growth ambitions. We are incredibly excited to be joining forces with a global independent group with Ardonagh's scale and dynamic culture. With access to Ardonagh's considerable resource and capital, we look forward to accelerating our organic and inorganic growth plans."
-José Manuel Fonseca
Ardonagh Global Partners was launched in January 2021 to invest in best-in-class businesses and management teams around the world and in turn support their growth ambitions.
It is a great privilege to partner with a distinguished and high-profile broking platform such as MDS. Jose Manuel together with his experienced and high calibre management team have developed a world class reputation for client service, innovation and professionalism, delivering outstanding service to their clients for over 30 years.
-Ardonagh Global Partners CEO Des O'Connor
THE ARDONAGH GROUP
The Ardonagh Group is the UK's largest independent insurance distribution platform and a top 20 broker globally. We are a collection of best-in-class entrepreneurial and specialist brands with a network of more 100 locations and a combined workforce of more than 8,000 people. Across our portfolio, we offer a highly diversified range of insurance-related products and services across the full insurance value chain in the UK, Ireland and broader international markets. From complex multinational corporations to individuals purchasing personal insurance policies, our understanding of the communities we serve, together with our scale and breadth, allows us to work with our insurer partners to deliver a broad range of product and risk solutions that meet customer needs.
MDS is a multinational group doing business as an insurance and reinsurance broker and risk consultancy, with a presence in over 125 countries. MDS is a market leader in Portugal, one of the largest players in Brazil and Angola, and maintains a direct presence in Mozambique, Spain, Malta, and Switzerland. Through Brokerslink, a global brokerage firm founded by the group which relies on 21,000 insurance professionals, it addresses customers' needs across multiple geographies and sectors. The group includes MDS RE, a reinsurance specialist doing business in Europe, America and Africa, and RCG — Risk Consulting Group, a leading firm in risk analysis, loss control, business continuity plans and enterprise risk management. Through HighDome, a Protected Cell Company (PCC), MDS offers risk transfer solutions that function as an alternative to the traditional insurance market. MDS also works with benefits management and flexible benefits through the companies 838 Soluções (Brazil) and Coverflex (Portugal).
NEXT Insurance | September 16, 2021
NEXT Insurance, the leading digital insurtech company transforming small business insurance, today announced its strategic rebrand which will integrate small business owners from across the country into every part of the company's business, culture and ethos. NEXT's new brand ambition is inspired by the company's mission to help entrepreneurs thrive and is reflected through new creative work, still photography, visual assets, a website refresh and a commercial campaign to embolden small businesses to "Get Going." Additionally, the company will devote $4 million over the next three years to small businesses.
NEXT's commitment to small businesses is more than just a tagline on our website. It's deeply ingrained into our culture, Beyond our visual rebrand, we've commissioned small business owners across the U.S. to develop our company apparel and team gifts like sweatshirts, notebooks, sustainable tote bags and custom patches. We've engaged independent photographers and videographers to help capture real small businesses for new visual brand assets and have worked with independent musicians to create custom on hold music. Small businesses are more than just our customers - they make up our identity.
- Melanie Chase, Chief Marketing Officer at NEXT.
A key aspect of NEXT's latest brand is to elevate small businesses and demonstrate the company's support in helping them "Get Going." To bring this to life, NEXT partnered with local black and female-owned small businesses, independent musicians and other small business owners for activations to support its strategic rebrand. For example, NEXT purchased its corporate apparel from Stuzo Clothing, a woman-owned gender neutral street wear brand in Los Angeles, and licensed its "on hold" music directly from independent musicians across the country. Customers who contact the company's call center will enjoy songs from independent musicians as well as an exclusive artist introduction to each song.
Between the ongoing struggle of the legacy insurance industry's one-size-fits-all coverage and the immediate impact COVID-19 had on small businesses, NEXT's rebrand came at a critical time for small business owners. To better align the brand to its company ethos, NEXT partnered with independent strategy and design company COLLINS to bring to life and shape its small business-focused mission through a reimagined brand strategy, visual identity, logo, communications and website. Additionally, NEXT worked with global creative company BUCK and sound design company Barking Owl to create an animated advertising campaign to launch the new brand.
About NEXT Insurance:
NEXT Insurance is transforming small business insurance with simple, digital and affordable coverage tailored to the self-employed. Trusted by 300K business owners, NEXT offers policies that are easy to buy in 10 minutes or less and provides 24/7 access to Live Certificates of Insurance, Additional Insured, and more, with no extra fees. Revolutionizing a historically complicated insurance industry, NEXT utilizes AI and machine learning to simplify the purchasing process and drive down costs by up to 30% compared to traditional policies. Founded in 2016, the company is headquartered in Palo Alto, has received a total of $881 million in venture capital funding, is rated "A- Excellent" by AM Best and has been recognized by Forbes Fintech 50, JMP Securities InsurTech 50 and Forbes Best StartUp Employers.