The Ardonagh Group has completed the acquisition of PSC Insurance Group Limited.
The acquisition sees PSC’s operations in Australia and New Zealand now combined with The Envest Group, Ardonagh’s platform in the region, led by CEO Greg Mullins.
The combined entity becomes one of Australia’s largest privately-owned insurance distribution players, placing A$3.3bn in GWP annually.
Group chief executive David Ross said: “PSC’s success has been defined by client focus and entrepreneurial thinking. We are fortunate to now have these threads sewn across our regional platforms as we continue to unlock value for customers through the connectivity of our global broking group.
“Ardonagh together with PSC is a dynamic combination and we are thrilled to welcome our new colleagues on board today.”
As part of the acquisition, PSC group founder and chairman Paul Dwyer joins the group senior management team.
Following completion, 900 new members of staff and hundreds of Authorised Representatives from more than 40 trading brands across Australia, the UK, Ireland, Hong Kong, Vietnam, New Zealand and Bermuda will join the group.
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