28 March 2019
While the timing and impact of Brexit at present remains unknown, The Ardonagh Group has been working behind the scenes for some time to prepare all our businesses for potential outcomes as well as ensuring our client-facing brands are doing what they can to support clients through this sustained period of uncertainty, and well into the future.
With a very small percentage of the Group’s income generated from within the European Union, we believe that the direct impact on Ardonagh’s portfolio of companies will be limited, importantly, because several additional mitigation strategies have been put in place in anticipation of all eventualities, including a hard or ‘no deal’ Brexit.
Like many UK businesses, the Brexit decision may affect the ability of businesses to passport from the UK into other EU states and likewise into the UK from the EU. We are working hard in an attempt to ensure that alternative arrangements are in place. Additionally, the strong UK presence of Ardonagh’s portfolio across a range of sectors means that we may face second-order challenges from such factors as lower GDP or slower consumer spending.
In terms of the impact to customers and clients, the Group’s portfolio of client-facing brands are all committed to providing the highest levels of service and tailored support to mitigate personal and business risks which may arise as a result of Brexit. Whatever the outcome, our people will continue harnessing the Group’s collective scale and breadth of expertise across our near 7000-strong workforce to deliver the best possible solutions to client needs.