Ardonagh Group has announced that Mark Mitchell will join the business to help spearhead the business’s expansion in the Asia region.
The broker group in May had announced it was acquiring Australia’s PSC Insurance in a deal worth AU$2.26bn (US$1.48bn) — a move that was seen as a platform for the UK-headquartered group to expand in Asia Pacific.
The hire of Mitchell, who joins Ardonagh after 11 years at Allianz Commercial, including his most recent roles as Regional CEO for APAC and CEO of Singapore, emphasises the group’s commitment to growth in the region.
Singapore-based Mitchell brings to the business over 35 years of industry experience, with 25 in the Asian Insurance Market. His diverse background includes time at businesses including the National Insurance Company Berhad in Brunei, Alalamiya for Insurance in Saudi Arabia, and both Chubb and RSA in Singapore.
Ardonagh said in a media release that Mitchell’s new role will see him work its Envest and Price Forbes businesses to explore opportunities to expand the business’s retail and wholesale broking footprint in the region, including the development of new MGA capabilities.
“Mark’s deep knowledge of the Asia Pacific market landscape will allow us to identify and execute on the best opportunities to drive growth and create value for our clients and markets alike,” said Global Partners Chief Investment Officer Des O’Connor. “He will further strengthen our team and proposition in this exciting region, which is currently one of the fastest growing insurance markets in the world,” O’Connor added.
The move for PSC Insurance, set to be completed later this month, will likely result in PSC being delisted from the Australian Stock Exchange. The move follows the group’s acquisition of Envest in 2023, which Ardonagh has also already expressed that it intends to merge with PSC Insurance, post-acquisition.
