Brisbane-based Austbrokers Comsure Insurance Brokers has purchased another brokerage, taking its annual gross written premium to more than $150 million.
AB Comsure – formed in 2020 through the merger of three south-east Queensland-based brokerages, Comsure, Bestmark and Citycover – has added Queensland-based CE McDonald Insurance Brokers to its network.
The 100% acquisition of CE McDonald follows NSW-based WRI Insurance Brokers joining the AB Comsure network in 2021.
AB Comsure Managing Director Ian Garbutt said CE McDonald was an excellent fit because of its focus on motor vehicle distribution and allied industries, which is a key specialisation for both brokerages, and AB Comsure’s strength in risk management and program design.
“There were obvious synergies and CE McDonald was already part of the Austbrokers network,” Mr Garbutt said.
“Our history has been based on bringing together like-minded businesses with a passion for customer service. This has resulted in greater financial strength and increased market share.”
CE McDonald has a rich heritage, having been established in the late 1960s. It is currently based in Darra, in western Brisbane, but will move to AB Comsure’s Springfield office, south-west of Brisbane, next year, when systems and processes will be integrated.
CE McDonald Managing Director Jackie McDonald, who has 44 years’ experience in the insurance industry, including 32 with CE McDonald, says the ability to join forces with AB Comsure is exciting.
“We’ll be the single largest motor dealer insurance broker in Australia,” she says. “Combining our deep motor dealership knowledge and experience with the AB Comsure team is a wonderful opportunity.”
Adding the five-member CE McDonald team to AB Comsure takes total staff numbers to more than 70.
Mr Garbutt says the expanded footprint and more diversified staff create opportunities for all employees to grow and advance and gives them access to additional employee benefits.
“This is an exciting milestone for our business as we significantly bolster our motor dealership portfolio and skills.”
Mr Garbutt said the acquisition was part of the overall growth strategy for AB Comsure. “We’re always looking to grow through varied methods, including organic growth and internal development. The moves we make today are directly aligned to helping us achieve our vision tomorrow.”
CE McDonald was initially established by John McDonald (no relation to Jackie McDonald). For many years it was run by well-known Sydney broker Trevor McWhirter, who was the 1991 winner of the National Insurance Brokers’ Associations’ Lex McKeown Trophy, awarded to a long-standing member who has provided outstanding service to NIBA and made a significant contribution to the broking profession.
CE McDonald joined the Austbrokers network in 2003.
Released by: Kate Tilley, Austbrokers Comsure Communications Consultant
P: (07) 3831 7500 E: firstname.lastname@example.org
About Austbrokers Comsure
Austbrokers Comsure is the largest Queensland brokerage in the Austbrokers network and part of AUB Group Ltd, an ASX200-listed company comprising insurance brokers and underwriting agencies operating in 570 locations globally. AUB has about 950,000 clients and places more than $9.5 billion annually in insurance premiums with domestic and international insurers.