Ardonagh

The insurance group bolsters the leadership of its motor broking businesses.

The Ardonagh Group has posted pro-forma adjusted Ebitda growth of 20.3 percent to £161.5mn ($230mn) for 2017.

Towergate’s holding company KIRS managed to price around £800mn ($1.02bn) of debt on Tuesday through the sale of two six-year notes, but the firm was forced to accept higher yields and structural tweaks to get the issuance away following investor pushback.