Major Ardonagh acquisition gets the green light from shareholders
Ardonagh has received approval from PSC shareholders to complete the A$2.3bn (£1.21bn) acquisition of the Australian broking business, with the transaction expected to close around 11 October 2024.
Once it has been completed Ardonagh intends to merge PSC’s Australia and New Zealand operations with its existing operation in the territory Envest.
Ardonagh claimed combining the companies will strengthen the group’s global position in the “retail, specialty and wholesale broking markets to deliver greater scale and efficiency benefits to clients, insurers, brokers and agencies”.
PSC’s UK operations will be merged into Ardonagh Specialty and Ardonagh Advisory, “further building the group’s
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