New capital solutions and product innovation helping build resilience: launch of Howden CAP in response to market-wide demand for new capital and insurance solutions.Additionally, post year end, completing TigerRisk in the US creates a brand new tier one reinsurance broker, and consolidates the Group’s position as a $30bn GWP global insurance intermediary. Align in the US has redefined the reach and access of Howden’s MGA business, creating an international MGA group with over £2.2bn GWP. Howden is ranked by the Employee Ownership Association as the UK’s fifth largest employee-owned business. The completion of Aston Lark in the UK builds on the APlan acquisition and takes the total investment in the UK to £2bn in the last 24 months. 31 completed acquisitions in FY 2022 have transformed Howden’s position in key markets: notably Assiteca, forming the third largest broker in Italy with 20 offices.A further £750m of equity was committed for the TigerRisk acquisition and employee shareholders of businesses joining the Group have reinvested £240m of equity since the start of FY 2022, along with a further 1,000 new employee shareholders, taking the total number to 3,500. £2.9bn of fresh investment into the Group’s unique capital model from long-term equity and debt holders to support the sustainable growth strategy in FY 2022.This demonstrates an ability to attract top talent, with new initiatives contributing 20% of the Group’s organic growth. Including M&A, headcount increased by 4,100 with 400 senior practitioners joining over the last 24 months. Entrepreneurial talent and client demand delivering unrivalled organic growth: 1,000 new employees (excluding from M&A) joined the Group in 2022.
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(both post period end) takes revenue on a pro forma basis to £2,036m and EBITDA of £648m. Completion of TigerRisk and the signed acquisition of March R.S.Continued exceptional financial performance: driven by record organic growth of 19% (FY 2021: 19%), a 60% increase in revenue to £1,841m (FY 2021: £1,148m), and a 69% increase in EBITDA to £565m (FY 2021: £335m).London, 30 January 2023 - Howden Group Holdings (“Howden Group” or the “Group”), a leading international insurance group, today announces its financial results for the year ended 30 September 2022. Consecutive year of 19% organic growth and transformational acquisitions demonstrates delivery of long-term strategy
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