Ardonagh Group releases results

"These results reflect the strength of our business model" says CEO

Ardonagh Group releases results

Insurance News

By Daniel Wood

The Ardonagh Group has announced its half-yearly results up to June 30. According to the London headquartered, international brokerage, income rose by 37% to £595 million (AU$1033 million) and adjusted EBITDA by 21% to £186 million (AU$323 million).

“These results reflect the strength of our business model with presence across multiple product lines, industries and geographies providing natural resilience and opportunity,” said CEO David Ross in a media release. 

The firm’s organic growth was 7% for the six months, with Ardonagh Specialty recording organic growth of 12% and Ardonagh International exceeding 10%.

“In particular our organic growth shows what happens when independent businesses are connected through a shared vision of client focus and innovation, and with the support of long-term backers,” said Ross.

According to the release, Ardonagh Specialty and International contributed 44% of group income in the first six months of 2022, compared with 31% the previous year.

In December 2021, the brokerage – whose business is organised into the Ardonagh Advisory, Ardonagh Retail, Ardonagh Specialty and Ardonagh International operating segments – was valued at US$7.5 billion (AU$10.8 billion) as part of an equity investment led by long-term shareholders Madison Dearborn Partners and HPS Investment Partners.  

The firm describes itself as the UK’s largest independent insurance distribution platform and a top 20 broker globally with a combined workforce of more than 9,000 people.

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