INSURANCE TIMES 21st November 2017
Towergate-owner Ardonagh Group is set to motor past Hyperion in IMAS/Insurance Times Top 50 Brokers in 2018.
In the 2017 Top 50 Brokers, Hyperion has £434m brokerage in seventh place.
Towergate is recorded as £318m brokerage in eighth place.
However, Ardonagh Group said today it had been on track to record income of £528m, meaning it would easily overtake Hyperion.
The group would also be closing in on the mega-brokers.
IMAS founder Olly Laughton-Scott said: “Acquisitions means Ardonagh Group looking to break into the tier one brokers (Marsh, JLT, Gallagher, Willis, Aon).
”Whilst not repeating heady period between 2002 to 2007 when Towergate grew from a mere £39m to £353m and effectively ruled the M&A roost, the backing of two heavy weight private equity firms is allowing Ardonagh once more to reshaping the landscape of insurance distribution.”