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 helped Ardonagh grow into a worldwide broking powerhouse. Ardonagh has sufficient opportunity to continue to build on its platform and increase its reach and profitability, and by increasing our investment today we are declaring our commitment to continue supporting those efforts. We are proud to be a crucial shareholder behind the Ardonagh labor force and look forward to our continued partnership, along with HPS and our and their new co-investors.”

The Ardonagh Group, a UK headquartered independent insurance coverage broking, servicing, underwriting and management business and the owner of reinsurance broker Inver Re, has actually secured a significant investment that values the company at $7.5 billion.The institutional quality of the financial investment support is a vote of confidence in the broking platform Ardonagh is building out, especially because 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 business today announced a significant new equity investment, led by existing long-lasting shareholders Madison Dearborn Partners, LLC and HPS Investment Partners, along with brand-new co-investors by means of accounts handled by MDP and HPS, that include a completely owned subsidiary of the Abu Dhabi Investment Authority (ADIA), and a number of other large global institutions.
The Abu Dhabi Investment Authority (ADIA) has actually 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, consisting of the ADIA subsidiary and other large international institutions, are set to get more than $1 billion in equity as part of the deal, 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 assisted Ardonagh grow into a worldwide broking powerhouse. Connection of ownership after 6 years is the optimum result for us, allowing management to focus exclusively on the execution of our technique and the conservation of the special Ardonagh culture.
Ardonagh has actually become a top 20 international insurance broker, putting $13 billion of premiums throughout its company and throughout the full spectrum of insurance and reinsurance threats.
With 8,000 employees throughout 100 places the company continues to grow too, especially through its acquisitions.
At September 30th 2021, Ardonaghs earnings over the last twelve months was $1.5 billion, while adjusted EBITDA reached $530 million.
Vahe Dombalagian, Managing Director and Co-Head of the MDP Financial & & Transaction Services team, said, “We have supported Ardonagh because the formation of the Group and in that time, weve experienced tremendous growth and diversification. 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 declaring our commitment to continue supporting those efforts. We are happy to be a crucial investor behind the Ardonagh workforce and eagerly anticipate our continued collaboration, together with 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 first day at the Group, we have actually steadfastly supported the Ardonagh management teams vision to build a best-in-class, international insurance coverage brokerage platform. We are excited to stay meaningful financiers in the Group as they continue to execute on their development method.”
Hamad Al Dhaheri, Executive Director, Private Equities Department, ADIA, likewise commented, “We are happy to partner with Ardonagh, together with HPS and MDP, to support its strong management group in performing its global development strategy. This investment continues to develop on our strategy and performance history of investing in market-leading companies across the insurance coverage industry worth chain.”

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