The Ardonagh Group Q3 YTD income up 25.3 percent to £505.4m ($654m)

The Ardonagh Group’s income in the first nine months of the year was £505.4 million ($654 million), up 25.3 percent on last year’s figure of £403.5 million. The results were underpinned by strong organic growth.

Adjusted earnings before interest, tax, depreciation and amortization increased by 61.4 percent to £144.4 million, with margins increasing to 29 percent (up +640 bps vs 2018) as the business continued to deliver significant savings from the integration of acquisitions and cost reductions from leveraging combined scale and best practices across the group.

Ardonagh Group CEO David Ross said: “2019 is a year of execution and delivery for the Group. We've had a real focus finishing off our significant infrastructure projects, integrating Swinton and delivering organic growth and high-quality earnings.

“Insurance is a people business, and our best ever quarter of organic growth is a testament to a culture which attracts and retains the best people from all parts of the industry. We face the future as a business without parallel for diversity of products, customers and distribution channels at global scale.”