Towergate owners post £261m loss for 2017


The Ardonagh Group has posted a loss of £260.9m for the year ended 31 December 2017, compared to a £45.4m loss in 2016, according to its investor report.

In addition, the broker revealed an Ebitda loss of £42.5m for the year, reversing a profit of £33.9m in the preceding year. 

However, in its financial report for 2017,the company reported total income of £535.7m for 2017, an 11.3% rise from £481.3m in 2016.

The business stated that 3.5% of its income growth was achieved organically

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