The Ardonagh Group, a major independent insurance broking platform, has completed the acquisition of PSC Insurance Group Limited. This strategic move combines PSC’s operations in Australia and New Zealand with Ardonagh’s regional platform, Envest Group, led by CEO Greg Mullins.
The merger creates one of Australia’s leading privately-owned insurance distribution companies, placing A$3.3 bn ($1.54 bn) in gross written premiums annually.
PSC’s brands, including Paragon and Carrolls, enhance Ardonagh’s specialty and UK advisory platforms in both wholesale and retail broking.
David Ross, Ardonagh’s Group Chief Executive, emphasized PSC’s success in client focus and entrepreneurial spirit, highlighting the synergy created across regional platforms. He noted the combined strengths of Ardonagh and PSC and welcomed the new colleagues to the team.

Paul Dwyer, PSC Group Founder and Chairman, has joined Ardonagh’s senior management team. He will provide strategic leadership across the APAC and UK Specialty platforms to help integrate and expand the combined operations.
On behalf of the PSC board of directors, I would like to express my gratitude to colleagues for their contribution to this successful venture over the past 18 years and for their unwavering dedication to clients throughout this process. I am delighted to be joining the Ardonagh team with them today as we embark on this next chapter of growth.
Paul Dwyer, PSC Group Founder and Chairman
The acquisition brings 900 new employees and over 40 trading brands under the Ardonagh umbrella, covering Australia, the UK, Ireland, Hong Kong, Vietnam, New Zealand, and Bermuda.
Greg Mullins, CEO of Envest, welcomed the integration of PSC teams, stating that the merger provides opportunities for both clients and industry professionals.
With so many incredible PSC teams joining the Envest venture today, we have all the ingredients to deliver enhanced value to clients and provide countless opportunities to excel for talented individuals across the insurance industry.
Greg Mullins, CEO of Envest
Andrew Wallin, CEO of Ardonagh Specialty, noted that the acquisition bolsters Ardonagh’s position in the London market by incorporating PSC’s Paragon and Carrolls teams.
The acquisition was finalized following approval by the Federal Court of Australia on October 1, 2024, under the Corporations Act 2001. The transaction was fully implemented on October 11, 2024.