The Ardonagh Group has completed its acquisition of Australian insurance firm, Envest.

Headquartered in Brisbane, Queensland, Envest is an insurance investment and distribution group with a diverse portfolio of businesses and a national footprint.

The businesses acquired as part of Envest Group include a national network of insurance brokers operating under the Aviso brand, three direct to consumer insurance brands and eight intermediated agencies.

The combined portfolio has over 550 employees, writes more than AU$800m in premium and Envest reported AU$60m (£43m) in consolidated revenue for the financial year to 30th June 2022.

Managing director Greg Mullins will continue to lead Envest.

“We’re so excited to get back to business and focus on supporting our businesses to achieve their strategic objectives,” Mullins said. “With the strength and experience of Ardonagh behind us, we look forward to accelerating our growth and offering customers quality service and products in the Australian insurance market."

Ardonagh Global Partners CEO Des O’Connor added: “Our exciting journey with Envest has officially started. We are ready to forge ahead in a new fast-paced chapter in our growth ambition supporting Envest’s drive towards further opportunities within the fast-growing and evolving Australian insurance markets and economies.”

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