The Ardonagh Group reports Q3 2018 results

David-Ross,-CEO,-The-Ardonagh-Group-announces-Q3-financial-results

"Continued top and bottom-line growth with Income up 11.2% YTD and Adjusted EBITDA up 31.4% Year to Date."

The Ardonagh Group has announced its financial results for the period ended 30th September 2018. 

Group income increased by 11.2% to £379.8m in the first nine months of the year, driven by underlying organic growth of 2.4%, continued investment in new hires and acquisitions completed in 2017. 

Successful integration across the Group with a focus on delivery of cost reduction plans boosted the YTD margin by 3.8 percentage points to 24.8%. Adjusted EBITDA1 grew by 31.4% to £94.2m. 

Ardonagh Group CEO David Ross said: “The latest results are another solid demonstration of new business, customer retention and investment continuing to drive profitable growth. 

Following the sale of our Commercial MGA and the Claims business, and strategic purchases in broking and distribution, we are focused on driving value from our core markets. 

Having spent the last three years talking about investments in people and infrastructure, it’s great to see Ardonagh enjoying the benefits.”