Ardonagh Group first quarter earnings have jumped compared with a year earlier following acquisitions including the Australian Resilium network business.

Income rose 24.8% to £199.7 million ($364.5 million) while adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) increased 52% to £66.3 million ($121 million).

“Every addition to the group has broadened our client proposition and made us stronger as a group and each in turn is stronger as part of a larger collective,” Group CEO David Ross said.

Other acquisitions by the UK-based company during the quarter included telematics specialist Marmalade, professional indemnity broker Hera Indemnity and US healthcare and benefits underwriter AccuRisk Solutions.

The group purchased Resilium on 15 February 2021. The consideration paid was $9.8 million cash, an $10 million loan note and shares with a fair value of $14.5 million.

Ardonagh says its first-quarter expansion was also driven by organic growth, particularly in specialty following a successful producer hiring program.