REG - Ondo InsurTech PLC - AGM Statement

Ondo InsurTechAnnouncement

22/09/2025 07:00

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RNS Number : 1409A  Ondo InsurTech PLC  22 September 2025

22 September 2025

 

Ondo InsurTech Plc

("Ondo" or the "Company")

 

AGM Trading Statement

 

Ondo InsurTech PLC (LSE: ONDO), a leader in claims prevention technology for
home insurers, is holding its Annual General Meeting at midday today.  At the
meeting, Chairman Mark Wood will address shareholders with the following
update.

 

"Since releasing our full-year results to 31 March 2025 on 30 July, we have
continued to achieve meaningful progress, particularly in the United States.
We have recently signed and launched a new partnership with Bear River
Mutual-Utah's oldest mutual insurer-which includes an initial deployment to
5,000 policyholders. In addition, several of our existing partners are
expanding their deployments into new states fuelling our US growth. Since the
start of the current financial year we have shipped 38,000 devices to US homes
which represents 80% of our global shipments and growth of over 6x year on
year growth.

 

Registered customers are now approximately 185,000, with the US now
representing 30% of our total registered customers and more that` 50% of
annualised contracted recurring revenue.

 

In Europe, we have renewed our partnership with Admiral, one of the UK's top
five home insurers, with a commitment to deploy 10,000 LeakBot devices during
the second half of 2025. Admiral has been a valued partner since 2022. Our
collaboration with NFU Mutual, another leading UK home insurer, also continues
to progress well.

 

In Denmark, following Topdanmark's integration into If P&C Insurance, we
have entered into an updated agreement that enables LeakBot to be rolled out
to a broader Danish customer base through If's agent network. This represents
a significant growth opportunity in a key European market.

 

Customer satisfaction remains central to our business. Our Net Promoter Score
is now +86 across all regions (UK: 88; USA: 87; Denmark: 79), while our
Customer Satisfaction Rating on Trust Pilot stands at 4.9 out of 5, reflecting
the value our technology provides to both insurers and policyholders.

 

We are pleased to announce recent Board appointments that further enhance our
governance and strategic expertise. James Quin has joined as Senior
Independent Director and Chair of the Audit and Risk Committee, bringing
substantial financial and regulatory experience from his previous roles at
Saga, Zurich, and Citigroup. Greig Paterson joins as Non-Executive Director,
contributing deep knowledge in insurance, capital markets, and strategic
advisory from his time as an award-winning analyst at US Investment Bank KBW.

 

Looking ahead, our focus remains on scaling LeakBot globally and strengthening
our relationships with leading insurers, particularly in the United States.
With multiple US partners expanding into new states, we are optimistic that
these efforts will accelerate our growth and reinforce our market position.
This ongoing momentum underscores the demand for our technology and sets the
stage for continued success in the months to come.

 

 

Enquiries

 

For further information, please visit (http://www.ondoplc.com) www.ondoplc.com
(http://www.ondoplc.com)   or contact the following:

 

 Ondo InsurTech Plc                 Craig Foster, CEO       +44 (0) 800 783 9866

                                    Kevin Withington, CFO
 Dowgate Capital Ltd                Russell Cook            +44 (0) 20 3903 7715

 (Broker & Financial Advisor)       Charlie Hall

                                    Amber Higgs
 Cassiopeia Services Ltd            Stefania Barbaglio      +44 (0) 7949 690338

 (PR & Investor Relations)

 

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