Global independent insurance broker Ardonagh Group has acquired a majority stake in Hong Kong-based specialist insurance broker Risk Management Insurance Brokerage Limited (RMIB).
The move is in line with the group’s long-term plans to strengthen its employee benefits and specialist risk advisory capabilities in the region
RMIB will join Ardonagh’s existing Hong Kong investments alongside PSC HK, Apex Insurance, Charter Gilman Insurance Brokers, Charter-Union Insurance and Trans-Pacific Insurance Brokers.
Founded in 1996, RMIB advises clients on employee benefits, property and casualty, transportation-related risks and niche international programs.
The broker is widely recognized by insurers and clients for its focus on long-term relationships, attention to detail and consistently high service standards in a highly competitive market.
RMIB is led by long-term directors Bie Tong and Danny Yao, who will continue to lead the business and work closely with Ardonagh to support collaboration, deepen insurance company partnerships and pursue sustainable growth.
Des O’Connor, chief commercial officer at Ardonagh, commented: “Ardonagh sees real opportunity in Asia and demand for local independent brokerage services continues to grow. RMIB represents the type of firm we value working with – trustworthy, technically capable and highly respected within the market. We are delighted to welcome Bie and Danny and look forward to working closely together as we continue to enhance our Hong Kong business and client service.”
Bie Tong, founder and CEO of Risk Management, added: “For nearly three decades, we have built RMIB by focusing on depth of expertise, consistency of service and long-term client relationships. Joining ARDONAGH marks an exciting new chapter and we believe this partnership will allow us to further enhance the solutions and support we provide our clients.”
Hei Wong, Managing Director of PSC HK Insurance Group, concluded: “Bie and Danny are well-known in the Hong Kong insurance market. Their addition strengthens our platform through experience, capabilities and shared values. As part of the group, we see opportunities for meaningful collaboration and mutual growth.”
