The acquisition of BGC’s insurance businesses is helping the independent broker’s business to grow bigger and faster, says Antony Erotocritou, CEO of Ardonagh Specialty.
Integrating and consolidating 11 brands down to two while running an international brokerage placing $7 billion of gross written premium (GWP) in 2022 is no mean feat. And that’s without taking into account the backdrop of global economic disruption wrought by Russia’s invasion of Ukraine, raging inflation and the lingering effects of the COVID-19 pandemic.
But this transition, following a major acquisition, has been achieved by independent London broker Ardonagh Specialty in the past 12 months.
Ardonagh Specialty enjoyed 16 percent organic income growth in 2022, and chief executive officer Antony Erotocritou tells Intelligent Insurer that he expects the company to place “more like $8 billion” GWP into the market in 2023.
Ant Erotocritou, Ardonagh Specialty, M&A, Insurance, Reinsurance, Growth, Brokerage