--- title: "Ardonagh's $2.3 Billion PSC Acquisition: A Milestone in Australian Broking" description: Ardonagh's $2.3 billion acquisition of PSC Insurance Group reshapes the Australian broking landscape, signaling a major shift in the market with plans for expansion and consolidation. image: https://reinasia.com/wp-content/uploads/2024/05/ardonagh-set-to-acquire-australias-psc-insurance-in-deal-valued-at-au2-26bn.webp --- [![IHQ Logo - Banner RIGHT IHQ ONLY](https://blog.insuredhq.com/hs-fs/hubfs/IHQ%20Logo%20-%20Banner%20RIGHT%20IHQ%20ONLY.png?width=473&height=70&name=IHQ%20Logo%20-%20Banner%20RIGHT%20IHQ%20ONLY.png "IHQ Logo - Banner RIGHT IHQ ONLY")](https://www.insuredhq.com/insuredhq-insurance-made-simple) - [PLATFORM](https://www.insuredhq.com/solutions) - [RESOURCES](https://www.insuredhq.com/stories) - [Blog](https://blog.insuredhq.com/blog) - [News](https://www.insuredhq.com/media-pr) - [Use Cases](https://www.insuredhq.com/testimonials) - [Glossary](https://www.insuredhq.com/glossary) - [STORIES](https://www.insuredhq.com/stories) - [Customers](https://www.insuredhq.com/testimonials) - [ABOUT](https://www.insuredhq.com/company) - [Company](https://www.insuredhq.com/company) - [Privacy](https://www.insuredhq.com/privacy-policy) - [Glossary](https://www.insuredhq.com/glossary) - [CONTACT](https://www.insuredhq.com/contact) - [Demo](https://www.insuredhq.com/contact) - [Media Inquiries](https://www.insuredhq.com/en/media_inquiry) - [BOOK A DEMO](https://www.insuredhq.com/contact) [![IHQ Logo - Banner RIGHT IHQ ONLY-1](https://blog.insuredhq.com/hs-fs/hubfs/IHQ%20Logo%20-%20Banner%20RIGHT%20IHQ%20ONLY-1.png?width=473&height=70&name=IHQ%20Logo%20-%20Banner%20RIGHT%20IHQ%20ONLY-1.png "IHQ Logo - Banner RIGHT IHQ ONLY-1")](https://www.insuredhq.com/) - [PLATFORM](https://www.insuredhq.com/solutions) - [RESOURCES](https://www.insuredhq.com/stories) - [Blog](https://blog.insuredhq.com/blog) - [News](https://www.insuredhq.com/media-pr) - [Use Cases](https://www.insuredhq.com/testimonials) - [Glossary](https://www.insuredhq.com/glossary) - [STORIES](https://www.insuredhq.com/stories) - [Customers](https://www.insuredhq.com/testimonials) - [ABOUT](https://www.insuredhq.com/company) - [Company](https://www.insuredhq.com/company) - [Privacy](https://www.insuredhq.com/privacy-policy) - [Glossary](https://www.insuredhq.com/glossary) - [CONTACT](https://www.insuredhq.com/contact) - [Demo](https://www.insuredhq.com/contact) - [Media Inquiries](https://www.insuredhq.com/en/media_inquiry) - [BOOK A DEMO](https://www.insuredhq.com/contact) [![Request a Demo](https://hubspot-no-cache-ap1-prod.s3.amazonaws.com/cta/default/579587/c54a9440-5c58-4dcf-8f9a-b1500dd0b6ff.png)](https://hubspot-cta-redirect-ap1-prod.s3.amazonaws.com/cta/redirect/579587/c54a9440-5c58-4dcf-8f9a-b1500dd0b6ff) **Menu** [![Request a Demo](https://hubspot-no-cache-ap1-prod.s3.amazonaws.com/cta/default/579587/c54a9440-5c58-4dcf-8f9a-b1500dd0b6ff.png)](https://hubspot-cta-redirect-ap1-prod.s3.amazonaws.com/cta/redirect/579587/c54a9440-5c58-4dcf-8f9a-b1500dd0b6ff) - [Solutions](https://www.insuredhq.com/solutions) - [Company](https://www.insuredhq.com/company) - [Blog](https://blog.insuredhq.com/blog) - [Contact](https://www.insuredhq.com/contact) ![](https://reinasia.com/wp-content/uploads/2024/05/ardonagh-set-to-acquire-australias-psc-insurance-in-deal-valued-at-au2-26bn.webp) [insurance](https://blog.insuredhq.com/blog/topic/insurance) | [distribution](https://blog.insuredhq.com/blog/topic/distribution) | [InsuredHQ](https://blog.insuredhq.com/blog/topic/insuredhq) | [press release](https://blog.insuredhq.com/blog/topic/press-release) | [australia](https://blog.insuredhq.com/blog/topic/australia) | [regulatory](https://blog.insuredhq.com/blog/topic/regulatory) | 2 min read # Ardonagh's $2.3 Billion PSC Acquisition: A Milestone in Australian Broking [![Jon Davies](https://app.hubspot.com/settings/avatar/1519aefee29a33cac98c0bceff42b89c)](https://blog.insuredhq.com/blog/author/jon-davies) Written by [Jon Davies](https://blog.insuredhq.com/blog/author/jon-davies) 25 Jun 2024, 15:08:39 The Australian insurance broking landscape has been significantly reshaped last month with [Ardonagh's $2.3 billion acquisition offer for PSC Insurance Group](https://www.ardonagh.com/media/announcements/2024/ardonagh-to-acquire-australian-headquartered-and-asx-listed-psc-insurance-group-in-landmark-a-2-3-billion-transaction/). This landmark deal, confirmed by PSC on May 8, follows months of discussions and signals a major shift in the market. [Ardonagh](http://www.ardonagh.com), headquartered in London, has been aggressively expanding its global footprint, with a record 67 acquisitions last year, including the [purchase of Envest in Australia](https://www.insurancenews.com.au/corporate/ardonagh-completes-envest-acquisition). The PSC acquisition is seen as a critical move in Ardonagh's strategy to enhance its presence in the Australian and New Zealand markets. CEO David Ross highlighted the alignment of values and strategic goals between PSC and Ardonagh, which has facilitated unanimous board approval from PSC. ![](https://in-magazine.com.au/wp-content/uploads/2024/06/new-map-2.jpg) The combined operations of PSC and Ardonagh in Australia and New Zealand are expected to handle $3.3 billion in gross written premiums annually, consolidating their market position. The merger will also integrate PSC's UK operations with Ardonagh's existing businesses, broadening their service capabilities and market reach. The proposed acquisition, pending regulatory and court approvals, is set for a shareholder vote in September.  ![](https://blog.insuredhq.com/hs-fs/hubfs/image-png-Jun-25-2024-02-59-00-2600-AM.png?width=883&height=386&name=image-png-Jun-25-2024-02-59-00-2600-AM.png) The insurance broking industry demonstrated resilience during the pandemic, with increasing premiums in a hard market bolstering the sector's stability. This environment has fostered a wave of mergers and acquisitions, from smaller brokerages seeking stability to larger firms pursuing strategic growth through consolidation. Compliance burdens and access to capacity for challenging risks are driving smaller brokerages to seek integration with larger, better-resourced firms. This trend has been evident in recent deals, including Ardonagh's acquisition of Resilium and Envest, further solidifying its market position. [PSC](https://www.pscinsurancegroup.com.au/), established by Paul Dwyer in 2006 and publicly listed since 2015, operates predominantly in Australia, New Zealand, the UK, and Hong Kong. The company has expanded its services to include underwriting agencies, employing 900 people and managing over $2.59 billion in global gross written premiums. The PSC acquisition follows other significant deals in the industry, such as [Marsh's purchase of Honan](https://www.honan.com.au/news/marsh-completes-previously-announced-acquisition-of-honan-insurance-group) and [Steadfast's acquisition of Coverforce](https://www.insurancenews.com.au/corporate/steadfast-completes-coverforce-acquisition). The sector's growth potential is underscored by Morningstar's positive outlook, which anticipates continued demand for independent expertise and technological advancements enhancing service delivery. ![Ardonagh to acquire australias psc insurance for au 26bn](https://reinasia.com/wp-content/uploads/2024/05/ardonagh-set-to-acquire-australias-psc-insurance-in-deal-valued-at-au2-26bn.webp) As the insurance broking sector continues to evolve, further consolidation is expected, with Ardonagh and Envest remaining active in seeking new acquisition opportunities. [InsuredHQ](https://insuredhq.com), serving some agencies under Envest, is positioned to benefit from the increased market stability and growth driven by such strategic moves. Overall, the Ardonagh-PSC deal marks a significant milestone, reinforcing the dynamism and potential of the Australian insurance broking market.       Previous Story [← The NZ Fintech Report: A Testament to Startups and Innovation in Aotearoa](https://blog.insuredhq.com/blog/the-nz-fintech-report-a-testament-to-startups-and-innovation-in-aotearoa) Next Story [InsuredHQ Named a Global Top Insurtech Company | Global 5-Star Technology and Software Provider for 2024 →](https://blog.insuredhq.com/blog/insuredhq-named-a-global-top-insurtech-company-global-5-star-technology-and-software-provider-for-2024) ## You May Also Like These Stories on insurance [technology](https://blog.insuredhq.com/blog/topic/technology) ### [APRA says frontier AI requires urgent action.](https://blog.insuredhq.com/blog/apra-says-frontier-ai-is-urgent-most-insurers-cannot-count-their-own-systems) 26 Aug 2026, 16:52:15 | 4 min read [insurance](https://blog.insuredhq.com/blog/topic/insurance) ### [MGAs Are Growing Up - and Actuarial Capability Is Becoming Part of the Core](https://blog.insuredhq.com/blog/mgas-are-growing-up-and-actuarial-capability-is-becoming-part-of-the-core) 20 Apr 2026, 19:59:52 | 3 min read [insurance](https://blog.insuredhq.com/blog/topic/insurance) ### [Insurers Are Now on the Front Line of Australia’s Cyber War](https://blog.insuredhq.com/blog/insurers-are-now-on-the-front-line-of-australias-cyber-war) 10 Dec 2025, 17:17:06 | 6 min read ### Subscribe by Email ## No Comments Yet Let us know what you think ![new-zealand-industry-awards-2024-finalist-insurtech](https://579587.fs1.hubspotusercontent-ap1.net/hub/579587/hubfs/new-zealand-industry-awards-2024-finalist-insurtech.png?width=1200&length=1200&name=new-zealand-industry-awards-2024-finalist-insurtech.png) ![IT10024-Badge-Black-v1](https://579587.fs1.hubspotusercontent-ap1.net/hub/579587/hubfs/IT10024-Badge-Black-v1.png?width=1200&length=1200&name=IT10024-Badge-Black-v1.png) ![Untitled design (1)-2](https://579587.fs1.hubspotusercontent-ap1.net/hub/579587/hubfs/Untitled%20design%20(1)-2.png?width=1200&length=1200&name=Untitled%20design%20(1)-2.png) ![5-star employer-1](https://579587.fs1.hubspotusercontent-ap1.net/hub/579587/hubfs/5-star%20employer-1.png?width=1200&length=1200&name=5-star%20employer-1.png) ![Technology and Software-1](https://579587.fs1.hubspotusercontent-ap1.net/hub/579587/hubfs/Technology%20and%20Software-1.png?width=1200&length=1200&name=Technology%20and%20Software-1.png) ![0305\_638760573676759902](https://579587.fs1.hubspotusercontent-ap1.net/hub/579587/hubfs/0305_638760573676759902.png?width=1200&length=1200&name=0305_638760573676759902.png) ![AWS badge-png](https://579587.fs1.hubspotusercontent-ap1.net/hub/579587/hubfs/AWS%20badge-png.png?width=1200&length=1200&name=AWS%20badge-png.png) ![Stripe Logo](https://579587.fs1.hubspotusercontent-ap1.net/hub/579587/hubfs/Stripe%20Logo.webp?width=1200&length=1200&name=Stripe%20Logo.webp) ![Xero-logo-hires-RGB](https://579587.fs1.hubspotusercontent-ap1.net/hub/579587/hubfs/Xero-logo-hires-RGB.png?width=1200&length=1200&name=Xero-logo-hires-RGB.png) ![vhT8hqUv\_400x400](https://579587.fs1.hubspotusercontent-ap1.net/hub/579587/hubfs/vhT8hqUv_400x400.png?width=1200&length=1200&name=vhT8hqUv_400x400.png) ![Worldpay-for-Platforms](https://579587.fs1.hubspotusercontent-ap1.net/hub/579587/hubfs/Worldpay-for-Platforms.webp?width=1200&length=1200&name=Worldpay-for-Platforms.webp) [InsuredHQ Reviews](https://sourceforge.net/software/product/InsuredHQ/) Copyright © 2023 InsuredHQ Limited. All Rights Reserved - [InsuredHQ Privacy Policies](https://www.insuredhq.com/privacy-policy) - [Glossary](https://www.insuredhq.com/glossary)