The Ardonagh Group Executive Update

02 March 2018

The Ardonagh Group ("Ardonagh" or "the Group") today announces that Mark Mugge will be moving out of his current role as Ardonagh CFO to work across the Group on a series of key strategic initiatives being prioritised during 2018.

Mark will step into this new role during March 2018 and his day-to-day responsibilities will transition to Antony Erotocritou as Group Finance Director. Antony has been Deputy CFO of The Ardonagh Group since February 2017 after eight years spent at RSA as Finance Director of their Personal Lines business.

Commenting on this update today, David Ross, Chief Executive of The Ardonagh Group said:

"2017 was a huge year for Ardonagh, with the creation of the Group providing us with a platform on which to build and grow incredible brands and businesses.

Almost exactly three years since Mark entered the building, we find ourselves entering the next phase of the Ardonagh story, moving out of the fix and formation.

By stepping away from the CFO role, Mark is freed up to lead and advise on strategic, growth acceleration projects as we remain focused on never standing still in a market awash with opportunity."

Mark Mugge added:

"Being able to give my full attention to these value creation projects is crucial to their compressed and ambitious timelines. I have complete confidence in Antony’s ability to continue to lead and grow our Finance team to support the Group’s ambition."

As part of the change, Antony will replace Mark on the board of the Group Holding Companies. The Group Holding Companies comprise The Ardonagh Group Limited, Ardonagh Midco 1 Limited, Ardonagh Midco 2 Limited, Ardonagh Midco 3 plc, Ardonagh Finco plc and Towergate Insurance Limited.

About the Ardonagh Group

Launched in 1997, the Ardonagh Group is a leading independently owned insurance intermediary in the UK. The Ardonagh Group is an important distribution channel for a significant range of insurance products and a key strategic partner for the UK’s largest insurers. The Ardonagh Group’s scale, customer insight and distribution relationships make it a unique business and a leader in the markets in which it operates. Its combination of distribution and underwriting gives it unparalleled consumer data and market insight.


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