Ardonagh completed the acquisition of the insurance brokerage business of BGC for $500m.

Ardonagh, an insurance company, completed the acquisition of the insurance brokerage business of BGC, an American global financial services company, for $500m. "We have been clear and consistent about our plans to express the value of BGC's assets. This transaction demonstrates our commitment to increase shareholder value and focus our interest on Fenics, which we believe represents the greatest opportunity for our Company," Howard Lutnick, BGC Chairman and CEO.