PSC Insurance Group’s removal from the Australian Securities Exchange official list is expected from today’s close, after Ardonagh on Friday officially completed its $2.3 billion acquisition.

UK-based Ardonagh says the deal has created one of Australia’s leading privately owned insurance distribution players, placing $3.3 billion in gross written premium annually. 

“PSC’s success has been defined by client focus and entrepreneurial thinking,” Ardonagh CEO David Ross said. “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.”   

PSC’s Australian and New Zealand operations are now combined within Ardonagh-owned Envest, led by CEO Greg Mullins, and founder and chairman Paul Dwyer has joined the Ardonagh senior management team, where he will be involved in the Asia-Pacific region and the UK specialty platforms.

“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,” Mr Dwyer said.

Mr Mullins says Envest has all the ingredients to deliver enhanced value to clients and provide opportunities for staff. “Our core objective now is to bring the best of both our worlds together.” 

Ardonagh says it is welcoming 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.