Ardonagh reports growth in income in Q3 2021 update
Consolidator says it completed £125m of investment in Q3 including its purchase of Usay Group in the UK, as it reports significant reduction in loss for the first nine months of the year.
The Ardonagh Group has reported a 30.1% increase in income for the nine months to 30 September 2021.
The business stated that its total income rose to £675.7m, up from £519.5m in the same time period in 2020.
It detailed that it had seen “especially strong growth” in its specialty and international divisions and added that organic growth in the third quarter of 2021 was 10%.
In addition, adjusted Ebitda grew by 44.5% to £238.7m (9M 2020: £165.2m), driven by acquisitions, organic growth and
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