Is Ando Insurance Group Limited (New Zealand) (NZBN 9429041788264; company number 5719687) owned by private equity?

Notes

• Official NZ overseas investment decision (LINZ) states Tasman BidCo Limited was granted consent (decision date 7 Apr 2025) to acquire up to 75% of the share capital in Ando Insurance Group Limited and describes Tasman BidCo as indirectly owned by The Envest Group Pty Ltd and ultimately owned by Ardonagh Group Holdings Limited.
• New Zealand Companies Office-derived shareholding snapshot shows Tasman BidCo Limited holds 50.10% (97,698 of 195,004 shares) in Ando Insurance Group Limited, indicating majority control at the shareholder level (other notable holders: Hollard at 19.60%; Ando Investments Holdings Limited Partnership at 26.97%).
• Ando’s own announcement (30 Apr 2025) confirms completion of the sale of a significant stake to Envest and indicates Hollard remains a cornerstone shareholder and management remains significant shareholders (consistent with a partial sale rather than a full exit).
• Ardonagh (3 Feb 2023) states it completed its acquisition of Envest Pty Ltd, supporting that Envest is within the Ardonagh group.
• Insurance industry press reporting indicates Ardonagh is majority-owned by private equity firm Madison Dearborn Partners (with Stone Point investing as a significant minority), supporting PE sponsorship/control at the ultimate-parent level.
• Ando states it was founded in 2015 and that in April 2025 it completed the sale of a “significant stake” to Envest, while Hollard will remain a “cornerstone shareholder” and the executive/senior team remain significant shareholders—this does not explicitly confirm current controlling ownership by any one party. (Ando press release and shareholder page)
• A New Zealand overseas investment decision listing (snippet available via search result) indicates Tasman BidCo Limited was acquiring up to 75% of the ordinary shares in Ando Insurance Group Limited; however, the underlying page could not be accessed (403), and the “up to 75%” figure could not be independently corroborated from an accessible primary document during this run. Therefore, control remains uncertain.
• Envest describes itself as part of The Ardonagh Group since 2023; Ardonagh publicly announced a large equity investment led by Stone Point Capital (a private equity firm) with MDP and HPS as existing shareholders, indicating PE sponsorship at the Ardonagh platform level, but this still does not by itself prove Envest/Ardonagh controls Ando. (Envest/Ardonagh sources)
• Founder support: Insurance industry press and NZ business press identify John Lyon as founder/CEO of Ando (founded 2015). Ando’s leadership page identifies Brett Cowley as co-founder.