PSC owner Ardonagh has reported a significant profit increase for 2024, capping what CEO David Ross calls “a terrific year”.

Reported adjusted earnings before interest, taxes, depreciation and amortisation at the global group rose 31% to $US683 million ($1.08 billion), while reported income increased 24% to $US1.99 billion ($3.16 billion). Organic income growth hit 8%, and 68 acquisitions were completed during the calendar year.

“2024 was a coming of age for Ardonagh,” Mr Ross said. “We started the year with a successful refinancing, completed the merger of our retail business Atlanta with Markerstudy, and took PSC Insurance Group private in our biggest acquisition to date.

“All while continuing to strengthen our position in the UK and executing a targeted M&A strategy in our chosen markets globally.

“We ended a terrific year with Stone Point Capital’s agreement to invest into Ardonagh at a valuation of $14 billion. Stone Point’s investment is a huge achievement for our 12,000 people that provides the security, stability and control of destiny that comes from being a private company for years to come.”

Chairman John Tiner says the company’s roots grew “far deeper” during the year.

“We entered Spain and New Zealand for the first time, and in total welcomed more than 1500 new colleagues from the 68 deals completed across the year. With this growth in our footprint comes yet more specialist expertise and innovative thinking to bring to the clients and communities we serve.”