The broker giant also revealed a 69% increase in ebitda to £565m
Howden Group Holdings achieved 19% organic growth across 2022, it revealed in its 2022 full year financial results.
Published today (30 January 2022), the results also revealed that Howden’s earnings before interest, tax, depreciation and amortisation (ebitda) increased 69% – from £335m in 2021 to £565m in 2022.
Pro forma revenue for the group across 2022 also grew by 60% to £1.8bn, up from £1.1bn in 2021.
The group’s organic growth was primarily driven by “new client wins and fresh talent joining the group”, said Howden.
A figure of 19% organic growth for the last full year also follows the same total for 2021 – when organic growth sat at 19% once again.
David Howden, Howden Group’s chief executive, said: “Howden Group delivered exceptional financial performance in 2022, led by 19% organic growth – an accomplishment that is even more remarkable given it follows the stellar 19% growth in 2021.
“As climate, macroeconomic and geopolitical uncertainty continues, the insurance sector has a tremendous opportunity to demonstrate its value to society.
“At time like this it’s important that we challenge ourselves to find new ways of helping our clients confront a dynamic and interrelated risk environment, such as our product insuring the authenticity of carbon credits and our work on using insurance to fund disaster relief projects.
“Our focus on insurance as a force for good, innovation and our entrepreneurial mindset are among the key reasons that more and more clients are turning to Howden.”
‘Unrivalled reach’
Howden also confirmed that it had completed 31 acquisitions across the 2022 financial year – including its purchase of Aston Lark, which was announced on 13 October 2021.
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The completion of the purchase of Aston Lark, alongside Howden’s acquisition of A-Plan in early 2021, takes the firm’s investment in the UK to a total of £2bn across the previous 24 months.
David Howden added: “We have established unrivalled reach and expertise in our home broking market of the UK and Ireland are a growing force in Europe.
“Almost half of our 31 acquisitions over the past 12 months were in continental Europe… reflecting our ambition to create a preeminent broking business of scale in Europe, a region that has long been our heartland.”
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