Toni Ferrier (pictured) will become chief executive officer of Envest Broking New Zealand in February 2027 – an appointment that sits at the top of an active acquisition program and raises a direct question for independent brokers operating in this market: is Envest coming for them, and on what terms?
Ferrier is among the more recognised figures in New Zealand’s insurance sector. She served as CEO of Marsh New Zealand and president of Marsh Risk New Zealand, having joined from AIG New Zealand, where she was CEO from January 2020. Earlier roles include senior leadership positions at Vero, Lumley, Wesfarmers, and Crombie Lockwood. She also served as a commissioner of the New Zealand Earthquake Commission and was president of the Insurance Council of New Zealand (ICNZ).
Envest Group CEO Greg Mullins said her market relationships were a central factor in the decision. “Toni is one of the most highly regarded leaders in the New Zealand insurance market. Her extensive industry experience, strong leadership credentials, and deep relationships across the sector make her an exceptional addition to our business,” Mullins said.
Ferrier said the group’s model drew her to the role. “One of the aspects that attracted me to Envest is the opportunity to help shape the next chapter of its broking business in New Zealand. We are building something of scale with an entrepreneurial organisation, alongside great people, with global backing and strong existing foundations,” she said.
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Mullins outlined three areas of expansion: growing PSC Insurance Brokers NZ through organic growth and acquisition; introducing Aviso Specialty to New Zealand as a mid-market specialty broking offering; and partnering with owner-led businesses through Envest’s equity alignment model. That third element is the most directly relevant to independent brokers.
Envest is targeting principals who are weighing succession or growth at scale. The equity model offers partnership rather than outright acquisition – local identity and client relationships are retained, backed by the capital and international reach of Ardonagh Group, Envest’s UK-based parent.
“We are committed to... partnering with entrepreneurial broker leaders who want to preserve their legacy, accelerate growth by leveraging our international connections and scale, and providing long-term opportunities for their people,” Mullins said.
The appointment follows a sequence of transactions. In April 2025, PSC NZ acquired Sepio Insurance in Pukekohe, whose principal had spent several years within PSC’s authorised representative network before formalising the sale. In July 2025, Envest wound up the PSC Connect network after 13 years, concentrating its model on equity-owned branches. PSC NZ national manager William O’Brien said at the time the target was to double the New Zealand business within two to four years. In November 2025, PSC NZ acquired Tauranga-based Broking Advisors.
The group now employs 48 staff across Auckland, Hamilton, Tauranga, and Christchurch, placing more than $65 million in gross written premium.
Other consolidators have been equally active. In August 2025, Steadfast’s Community Broker Network acquired Folio’s New Zealand broking network, rebranding it as CBN NZ. In October 2025, Howden acquired Auckland-based Omni Insurance Brokers.
Independent agents and brokers held 61.1% of New Zealand property and casualty insurance premiums in 2025, according to Mordor Intelligence – a share that has drawn sustained attention from internationally backed buyers.
New Zealand’s property insurance market softened through 2025 and into early 2026. IAG’s intermediated business, which includes NZI, recorded a 10.4% decline in gross written premium, while Suncorp’s Vero brand fell 5.6% in the same period, according to Gallagher’s May 2026 Corporate Market Update.
Compressed margins tend to bring succession decisions forward at owner-led firms – and that is the pool multiple consolidators are now competing to reach.
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The planned New Zealand launch of Aviso Specialty is a separate development worth monitoring. In Australia, the brand serves more than 17,500 clients as a specialist broking offering positioned between local independents and the global houses, according to its own website. A New Zealand entry would introduce new competition in the mid-market commercial segment. No launch date has been confirmed.
The Insurance Brokers Association of New Zealand (IBANZ), which represents the country’s general insurance brokers, had not commented publicly on the announcement at the time of publication.
Ferrier formally commences with Envest in February 2027.
