Envest Group has acquired a significant stake in Ando Insurance Group Limited, enhancing its capacity to innovate within New Zealand's insurance market.

Information on the Target

Envest Group, a subsidiary of The Ardonagh Group, has successfully acquired a significant stake in Ando Insurance Group Limited, an independent underwriting agency based in New Zealand. Founded in 2015 by John Lyon and Dean Edwards, Ando has rapidly established itself as one of the leading Managing General Agents (MGAs) in the region, managing over NZ$500 million in Gross Written Premium across both personal and commercial sectors.

The acquisition signifies a strategic move for both companies, with Envest's commitment to providing Ando the resources, expertise, and strategic support necessary to fuel its growth. This partnership is poised to enhance Ando's ability to deliver innovative, broker-first solutions tailored to the unique demands of the New Zealand insurance market.

Industry Overview in New Zealand

New Zealand's insurance market is characterized by a strong emphasis on customer service and technological innovation, particularly among MGAs. The industry has experienced consistent growth, driven in part by a burgeoning economy and an increasing awar