Price Forbes

What Price Forbes does

Price Forbes is a specialty insurance and reinsurance broker founded in 1893 and headquartered in London. Operating as the #1 independent specialty broker in the London Market and the 5th largest broker at Lloyd's, the company manages over $7 billion in gross written premiums (GWP) across approximately 2,000 employees organized into 43 specialist teams. The firm is a wholly-owned subsidiary of The Ardonagh Group, one of the world's largest independent insurance distribution platforms. Price Forbes places complex risks across virtually every major specialty line including aviation, marine, casualty, property, energy, construction, specie, fine art, cyber, healthcare, and financial and professional lines, serving sophisticated corporate, institutional, and high net worth clients globally.

The company's core technology stack centers on two proprietary platforms: Vantage, a digital broking platform, and Lectio, an exclusive follow facility providing guaranteed access to pre-approved capacity for clients and brokers. Lectio's premium scope has grown from approximately $350 million at launch in April 2021 to approximately $1.3 billion following a 2026 expansion to Bermuda with a new property line. In March 2026, Price Forbes implemented mea Platform's insurance-specific AI suite — built on a domain-specific language model and knowledge graph — to automate enquiry intake, exposure modelling, market submissions, and digital placement. The Ardonagh Intelligence & Analytics Lab, staffed by 100+ data scientists with a centralized data lake, supports these capabilities.

Price Forbes generates revenue through commissions and fees on premium volume placed with global insurers and reinsurers, supplemented by fees for specialized advisory services including captive consulting and structured programme design. The company distributes its services through direct enterprise relationships, retail and wholesale broker partnerships, MGA platforms, captive advisors, and risk managers. With licensed operations across the UK (FCA), Bermuda (BMA), Singapore (MAS), Peru (SBS), Chile (CMF), the US (Florida DFS), and a Dubai-based MEA hub, Price Forbes operates as a truly global specialty placement platform.

Name

Price Forbes

Legal name

Ardonagh Specialty Limited

Website

https://priceforbes.com

Company type

Private

Founded year

1893

Operating status

Operating

Headcount range

251–500 employees

Short description

Price Forbes is a London-headquartered specialty insurance and reinsurance broker, ranked #1 independent specialty broker in the London Market and 5th at Lloyd's, placing complex risks across aviation, marine, casualty, energy, and other specialty lines for global enterprise clients via the proprietary Lectio follow facility.

Ownership category

akta.pro rank

Product category

Specialty Insurance Brokerage

akta.pro primary industry

Fine Art, Jewelry & Specie (FSAJAGAL)

akta.pro secondary industry

Business Interruption & Insurance Claim Valuation (FSAEAHAM)

Keywords

• Specialty insurance brokerage
• Reinsurance broking services
• Complex risk placement
• Cargo insurance solutions
• Marine insurance broking

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Insurance and Reinsurance Broking: Price Forbes generates revenue as a specialty insurance and reinsurance broker by placing risk on behalf of clients with global insurers and reinsurers. Revenue is derived from commissions and fees based on premium volume placed ($7bn+ GWP) and fees for specialized advisory services.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

Price Forbes is a specialist insurance and reinsurance broker that places complex risks on behalf of sophisticated corporate and institutional clients with global insurers and reinsurers across London, Bermuda, and other major (re)insurance hubs. The company offers bespoke specialty placements, structured programme design, captive solutions, and access to exclusive capacity through proprietary facilities such as Lectio, with a portfolio spanning aviation, marine, property, casualty, construction, energy, cyber, cargo, specie, fine art, healthcare, and other specialty lines.

Product overview

Price Forbes is a specialist insurance and reinsurance broker offering a comprehensive portfolio of risk solutions across contingency, casualty, cargo, captives, construction, accident & health, cyber, and specialty lines. The company operates proprietary digital platforms including Vantage and Lectio. Lectio serves as their flagship follow facility providing guaranteed access to exclusive capacity across cargo, specie, financial products, healthcare, aviation, cargo/stock throughput, cyber, energy, financial institutions, marine, property, power, and construction. Specialty facilities like AgriShield provide targeted coverage for specific sectors including agricultural soft commodities. The business manages over $7 billion in gross written premiums across aviation, casualty, energy, property and other insurance lines.

Differentiator

Problem solved

Functional benefit

Brands

• Vantage: Proprietary digital platform for broker services
• Lectio
• AgriShield
• Lectio Bermuda
• MasterCover Facility
• Light Manufacturing Facility
• Small Business Facility

Products and services

• Lectio Exclusive follow facility providing guaranteed access to capacity for Price Forbes' clients and their brokers. Automatically follows pre-approved lead insurers across cargo, specie, financial products, healthcare, aviation, cargo/stock throughput, cyber, energy, financial institutions, marine, property, power, and construction lines with premium scope exceeding $1.3bn.
• AgriShield Comprehensive coverage facility for soft commodity supply chains, offering end-to-end protection from field to port, integrating inland, ocean, and warehouse risks with tailored limits for seasonal surges and commodity turnover. Designed for agricultural sector clients across grain, oilseed, and soft commodity markets.
• MasterCover Facility Cargo facility offering coverage with limits up to USD75m for cargo and stock throughput risks through Price Forbes' global facilities.
• Light Manufacturing Facility Cargo facility with USD75m limit including up to USD5m Business Personal Property (BPP) and USD1m Business Interruption (BI) coverage for light manufacturing risks.
• Small Business Facility Exclusive online platform providing cargo and stock throughput coverage for small and medium-sized business risks with limits up to USD15m.
• Specialty Insurance and Reinsurance Broking Core specialty insurance and reinsurance broking services across all major lines including aviation, marine, property, casualty, construction, energy, mining, healthcare, financial services, life sciences, cargo, specie, fine art, cyber, and other specialty lines. Serves sophisticated corporate clients, institutions, retail/wholesale brokers, MGA platforms, captives, and risk managers globally.

Quantifiable outcome

• $1.3bn premium scope through Lectio facility following Bermuda expansion
• +3 more outcomes

Named customers10 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature4 records

Partnerships

Seven partnerships are on record, tiered minor and core.

• Laser Tools Racing with MB MotorsportminorGTM or Marketing Partner · 16 April 2026Price Forbes became Official Team Partner for the 2026 Kwik Fit British Touring Car Championship. Branding features on front wheel arches of Toyota Corolla GR Sport challengers driven by Gordon Shedden and Árón Taylor-Smith. Partnership aligns performance, precision, and specialist risk expertise.
• Oka Carbon Insurance CompanycoreStrategic or Co-development Partner · 2 April 2026Oka Carbon Insurance Company collaborated on development of insured carbon asset framework with 1089 Inc. and Price Forbes. Provides the insurance structure for CX89 Advanced Fuels Credits underwritten by Lloyd's Syndicate 1922.
• mea PlatformcoreTechnology or Integration · 4 March 2026Partnership to implement AI products from mea Platform to automate core broking operations including data handling, document workflows, and market submissions. The mea Operations suite handles enquiry intake, exposure modelling, market submissions and digital placement. This technology adoption aims to improve operational efficiency as Price Forbes expands internationally.
• 1089 Inc.coreStrategic or Co-development Partner · 27 February 2026Partnership to launch CX89 Advanced Fuels Carbon Assets insured carbon framework for transportation and energy sectors. Framework provides defined risk coverage designed to prevent performance losses from credit degradation, integrating embedded insurance, registry oversight, and immutable accounting infrastructure. Price Forbes serves as supporting broker in this market-defining initiative.
• Lloyd's Syndicate 1922 (Oka)coreStrategic or Co-development Partner · 27 February 2026Lloyd's Syndicate 1922 underwrites the CX89 Advanced Fuels Carbon Assets framework. Oka (The Carbon Insurance Company) provides the insurance structure for this carbon asset insurance framework targeting transportation and energy sectors.
• Ardonagh Community TrustminorGTM or Marketing Partner · 10 February 2026Price Forbes Asia supports the Bright Future Prize, a youth development initiative offering S$69,000 in funding for youth-led projects by 15-21-year-olds across four categories. Since 2021 launch, initiative has awarded over S$320,000 to support more than 45 young changemakers worldwide.
• HiscoxminorChannel Partner/ Reseller/ Distributor · 30 June 2025Hiscox launched Cargo API digital solution for small cargo and stock throughput risks available through broker partners including Price Forbes. The product targets small and medium-sized businesses worldwide with coverage limits up to US$5 million, providing near-instant quote and bind capabilities with 100% Hiscox Syndicate 33 security backing.

Scale indicators11 records

Recent moves6 records

Expansion highlights8 records

Direct peers

• Lockton: Lockton is the world's largest independent insurance brokerage with a strong specialty practice. Both firms are independent-minded specialty brokers competing for complex, large-ticket placements across similar industries and client profiles.
• Brown & Riding: Brown & Riding is a wholesale/specialty broker with London Market presence serving retail brokers on complex placements. It competes with Price Forbes on large, hard-to-place risks across similar specialty lines.
• Howden: Howden is a specialist insurance broker with strong London Market presence and a fast-growing specialty platform that competes head-to-head with Price Forbes across aviation, marine, energy, and casualty lines. Recent hires (e.g., Finn Cackett from Howden to Price Forbes A&H) underscore direct talent competition.
• Arthur J. Gallagher & Co. Gallagher is a large global broker with a substantial specialty and reinsurance practice that overlaps with Price Forbes across construction, energy, aviation, and casualty. Malcolm Payton joined Price Forbes from Gallagher Specialty, evidencing direct talent flow between the two firms.
• Miller Insurance Services: Miller is a specialist London Market broker and a direct competitor to Price Forbes across multiple specialty lines. Recent talent movement (Lyndsey Bauer from Price Forbes to Miller in Cyber) demonstrates direct competition for both clients and producers.
• RPS Group (Risk & Reinsurance Solutions): RPS is a specialty wholesale broker with deep London Market relationships, competing with Price Forbes in casualty, marine, aviation, and reinsurance placements as a wholesale partner to retail brokers.

Broad incumbents

• Willis Towers Watson (WTW): WTW is a top-tier global broker with significant specialty operations, particularly through Willis Re and its natural resources and aerospace practices. It competes directly with Price Forbes in aviation, marine, energy, and reinsurance placements.
• Marsh & McLennan: Marsh is the world's largest insurance broker by revenue, with Marsh Specialty operating as a direct competitor in complex/specialty lines. Both firms place aviation, marine, casualty, energy, and specie risks through London Market access; Marsh brings global scale and broader carrier relationships.
• Aon plc: Aon is the world's largest insurance and reinsurance broker with substantial specialty operations across aviation, marine, construction, and energy. As a top-three global incumbent with broad capabilities, Aon overlaps with Price Forbes across most specialty lines but serves a wider client base including mid-market accounts.

Emerging players

• Alliant Insurance Services: Alliant is a US-headquartered specialty broker with growing international capabilities, particularly in construction, energy, and casualty. It overlaps with Price Forbes on US-exposed risks placed into London Market, though its London footprint is smaller.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/price-forbes
• Xx.com/PriceForbes

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles20 records

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Price Forbes