UK-based Ardonagh’s reported income grew 20.4% to $US2.55 billion ($3.6 billion) last year as it strengthened its international operations.

The company made 95 acquisitions including entering the French market with Groupe Leader Insurance and further expanding its footprint in Australia, Spain, New Zealand and Hong Kong.

CEO David Ross says income has grown tenfold in the eight years since Ardonagh launched, positioning the company as a top 15 global broker. The group’s businesses include Australia’s Envest.

“Our footprint means we can take advantage of previous good investment decisions,” Mr Ross said. “We diversified and tooled up extremely well in the previous cycle and are match fit to forge through the market evolutions and turmoil unfolding around the world.”

Organic income rose 4% on a constant currency basis and adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) jumped 24.8% to $US912.1 million ($1.3 billion).

US private equity firm Stone Point Capital last year invested $US2.5 billion ($3.6 billion) in Ardonagh.

Chairman John Tiner says the group has built a “truly global presence”, with 65% of income coming from outside the UK, while international operations account for more than 40% of personnel. 

“Ardonagh is underpinned by an entrepreneurial spirit shared by all our businesses,” he said. 

The company says pro-forma income reached $US2.9 billion ($4.2 billion) and adjusted EBITDA $US1.1 billion ($1.6 billion), including completed and committed acquisitions to March 19, together with annualised growth and savings initiatives.