PSC Insurance Brokers, operating under the Envest Group umbrella, has expanded its New Zealand operations through the acquisition of Sepio Insurance, which includes a regional office in Pukekohe.
The move increases PSC’s operational capacity in the country, bringing the total number of employees to more than 40 across five office locations.
The brokerage now oversees upwards of $60 million in gross written premium (GWP) within the New Zealand market, according to regional manager William O’Brien.
“We are very excited to officially welcome Mark Davie, Ana Maxwell, and Boston Davie to our team and look forward to supporting the Sepio clients with access to the broader PSC business and resources,” O’Brien said.
The transaction follows structural changes under which Envest – formed after The Ardonagh Group acquired PSC – now consolidates the insurance broker’s operations in New Zealand and Australia. Envest functions as a diversified insurance intermediary group.
Sepio principal Mark Davie had worked within the PSC Connect authorised representative network for several years before formalising the sale. He noted that the decision to transition the business came at the right time, both personally and professionally.
“Over the last five to eight years, we’ve worked hard on building the business independently, and I’m now looking forward to having a lot more support and enjoying a better work life balance,” he said.
The office in Pukekohe will remain open, and the existing team is staying on.
PSC Insurance Broking CEO Benjamin Goodall said the move supports the company’s dual strategy of organic growth and targeted acquisitions in the New Zealand market.
“New Zealand is an exciting market to be part of, and The Envest Group is now well positioned to lean into our businesses to provide a level of support and influence which is rare outside of international operators,” he said. “Ultimately, this helps our businesses deliver better products and services to their customers.”
PSC Insurance Brokers NZ currently operates in Auckland, Christchurch, Hamilton, and Kapiti, with services also provided by a Mandarin-speaking team. The company also supports a separate network of authorised representatives under the PSC Connect banner, led locally by David Penfold.
Envest has indicated further acquisitions are under consideration in New Zealand. It is also enhancing its digital capabilities to streamline brokerage services and improve client outcomes.
