Envest-backed Aviso Group (group) has acquired North Queensland Insurance Brokers (NQIB), a major milestone for the group.
NQIB is based in Townsville and boasts strong and trusted relationships across a wide range of industries. Despite the new owner, the broker will see industry legend Ron Bellert remain the chairman of the business and John McKaig as the general manager.
Commenting on the agreement, Bellert said NQIB was attracted to the Aviso Group model and Envest independence in consolidating a market that offers fewer alternatives.
“We have professional and personal relationships within the group and were very comfortable with the direction and freedom offered,” he said. “We're looking forward to growing together and leveraging the opportunities afforded by the size and strength of the group.”
Envest is an independent and privately owned insurance investment and distribution business with interests in brokers, agencies, and insurtech. It now has interests in 15 agencies, nine brokers, and two insurance-related companies. Over the past two years, it has grown significantly and continues to invest in like-minded people and businesses. It has also started consolidating many existing members and taking more ownership positions.
Envest managing director Gregory Mullins said the latest acquisition was a milestone achievement for its broking arm, Aviso Group.
“The M&A space for brokers continues to be incredibly competitive, so we are pleased to be able to attract a deal of this nature. We are also delighted in the quality of the people we are investing in and confident it is a terrific cultural fit for both organisations,” he said.
NQIB has joined the Aviso Group after its business, Aviso Broking, swooped for Macquarie Insurance Brokers last month. Now, Aviso Group is composed of the following insurance brokers: Aviso WA Insurance Brokers, Fitzpatrick & Co. Insurance Brokers (VIC), Aviso Broking (QLD/NSW), Aviso Select (National), Acumen Insurance Brokers (NSW), Aviso TAS Insurance Brokers (TAS), Acumen Insurance Brokers (NSW), Western Insurance Brokers (VIC), Grange Insurance Solutions (WA), and North Queensland Insurance Brokers (QLD).
