With Atlanta sold, what will Ardonagh do with the funds it pockets?
Jonathan Swift looks at Ardonagh’s recent growth, and suspects that a larger percentage of the £820m windfall from the Atlanta sale is going to be spent overseas rather than at home.
With confirmation that it is passing on control of its retail business Atlanta to Markerstudy in a £1.2bn deal, a new look Ardonagh is very much taking shape.
The move sees Ardonagh shed 19% of its business, all of which was based in the UK, and thus automatically it’s international portfolio has greater prominence within the group.
This is a portfolio that has been on some growth journey recently, given that Ardonagh’s first foray overseas was only in 2020 when it picked up Arachas in Ireland
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