Envest will leave the Steadfast network as its parent Ardonagh Group’s acquisition of PSC transforms the broking landscape and competitive dynamic.

Resilium and Aviso are part of Envest, and insuranceNEWS.com.au understands brokers were told this week they will lose access to Steadfast technology and services.

However, sources say Envest will remain a Steadfast member for at least six months, during which it can continue to access all services including the Steadfast Client Trading Platform. It will retain access to the Insight broker system for another 18 months.

Envest declined to comment, but it is believed the group is preparing to switch to other “in market” systems to replace SCTP and Insight. Ardonagh is also working on its own direct placement system.

As previously reported, UK-based Ardonagh announced in May that it will buy PSC Insurance Group for an implied equity value of $2.26 billion, and the deal should be completed in September.

Ardonagh intends to merge PSC’s Australia and New Zealand operations with Envest, which it acquired in February 2023, making one of Australia’s largest privately owned insurance distribution groups, placing $3.3 billion in gross written premium annually.

PSC is already using its own APEX platform, having parted ways with Steadfast last year.

Steadfast did not reply to requests for comment on Envest’s membership.