Ardonagh gets major investment from PE funds, ADIA & institutions

Ardonagh gets major investment from PE funds, ADIA & institutions

David Ross, Group CEO, commented on the news, “The recommitment of both HPS and MDP continues a collaboration that has actually assisted Ardonagh grow into an international broking powerhouse. Ardonagh has sufficient opportunity to continue to construct on its platform and increase its reach and profitability, and by increasing our financial investment today we are declaring our dedication to continue supporting those efforts. We are happy to be a crucial investor behind the Ardonagh labor force and look forward to our continued collaboration, together with HPS and our and their brand-new co-investors.”

The Ardonagh Group, a UK headquartered independent insurance broking, management, underwriting and servicing company and the owner of reinsurance broker Inver Re, has actually protected a significant investment that values the company at $7.5 billion.The institutional quality of the investment backing is a vote of confidence in the broking platform Ardonagh is building out, particularly since its acquisition of the BGC insurance coverage and reinsurance broking operations, consisting of Corant Global and now its build-out of the Inver Re platform.
The company this morning announced a considerable brand-new equity financial investment, led by existing long-term investors Madison Dearborn Partners, LLC and HPS Investment Partners, together with brand-new co-investors through accounts handled by MDP and HPS, that include an entirely owned subsidiary of the Abu Dhabi Investment Authority (ADIA), and a variety of other large global institutions.
The Abu Dhabi Investment Authority (ADIA) has been expanding its interests in insurance and reinsurance of late, both on a private equity basis and through its insurance-linked securities (ILS) portfolio.
Funds under the management of Madison Dearborn Partners, LLC and HPS Investment Partners will both increased their shareholding in Ardonagh and HPS will likewise reinvest in the Group.
The co-investors, including the ADIA subsidiary and other big worldwide institutions, are set to acquire more than $1 billion in equity as part of the transaction, which values Ardonagh at $7.5 billion.
David Ross, Group CEO, commented on the news, “The recommitment of both HPS and MDP continues a collaboration that has actually helped Ardonagh grow into a worldwide broking powerhouse. Continuity of ownership after six years is the optimum outcome for us, enabling management to focus exclusively on the execution of our strategy and the preservation of the unique Ardonagh culture.
Ardonagh has actually become a top 20 global insurance broker, putting $13 billion of premiums throughout its business and across the complete spectrum of insurance coverage and reinsurance risks.
With 8,000 workers across 100 areas the company continues to grow too, specifically through its acquisitions.
At September 30th 2021, Ardonaghs earnings over the last twelve months was $1.5 billion, while changed EBITDA reached $530 million.
Vahe Dombalagian, Managing Director and Co-Head of the MDP Financial & & Transaction Services group, said, “We have actually supported Ardonagh given that the development of the Group and because time, weve experienced incredible growth and diversity. Ardonagh has adequate chance to continue to build on its platform and increase its reach and success, and by increasing our investment today we are reaffirming our commitment to continue supporting those efforts. We are proud to be an essential shareholder behind the Ardonagh labor force and eagerly anticipate our continued collaboration, alongside HPS and our and their brand-new co-investors.”
Scot French, Governing Partner of HPS, added, “Throughout our multi-year relationship dating back to their very first day at the Group, we have actually steadfastly supported the Ardonagh leadership teams vision to build a best-in-class, international insurance brokerage platform. We are thrilled to remain meaningful financiers in the Group as they continue to carry out on their development method.”
Hamad Al Dhaheri, Executive Director, Private Equities Department, ADIA, also commented, “We are pleased to partner with Ardonagh, along with HPS and MDP, to support its strong management team in performing its worldwide development method. This investment continues to construct on our technique and performance history of buying market-leading organizations throughout the insurance coverage market value chain.”

Leave a Reply

Your email address will not be published. Required fields are marked *

error: Content is protected !!