Companies

Insurer led by Irish CEO completes €300m takeover deal

Ardonagh Group, which recently bought Ireland’s largest network of insurance brokers, has closed its acquisition of Envest

Envest, the Australian insurance firm, is headquartered in Brisbane. Picture: Getty

Ardonagh Group, a UK insurer led by Irish CEO David Ross, has completed its takeover of Envest, the Australian insurance firm.

The deal was valued at AU $482 million, or €312 million. Headquartered in Brisbane, Queensland, Envest is an insurance investment and distribution group with a diverse portfolio of businesses.

The combined Envest group has over 550 employees, and reported AU $60 million in revenue for the financial year to the end of June 2022.