The Ardonagh Group, a multi-national independent insurance broking platform, confirms it has completed the acquisition of PSC Insurance Group.
The completion of the transformational acquisition in the APAC region 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 leading privately owned insurance distribution players, placing A$3.3bn ($2.2bn) in gross written premiums annually. PSC’s global suite of broking and MGA brands, including Paragon and Carrolls, strengthens Ardonagh’s leading Specialty and UK Advisory platforms in wholesale and retail broking positions.
PSC Group founder and chairman Paul Dwyer joins the Group senior management team. He will be actively involved in the APAC and the UK Specialty platforms, providing strategic leadership and advice to integrate and grow the combined businesses.
Following the completion of the A$2.26bn ($1.55bn) acquisition, Ardonagh welcomes 900 new colleagues and hundreds of authorised representatives from more than 40 trading brands across Australia, the UK, Ireland, Hong Kong, Vietnam, New Zealand, and Bermuda.