Ethos Broking Australia continues its acquisition streak with five new insurance businesses in keeping with its Hub and Spoke M&A growth strategy.
According to Adrian Kitchin, chief executive officer of Ethos Broking Australia, medical indemnity specialist Medical & General Risk Solutions and KSLR have merged with Ethos’ existing hub, Insurance Mentor, with offices on the Gold Coast and in Sydney.
Meanwhile, the acquisition of Insurity and Hayes Insurance was completed through Ethos’ Hub business Cornerstone Risk Group. These acquisitions will form a part of Resilium Partners – the authorized representatives model within the group.
At its early stages, Resilium Partners is currently investing in insurance businesses who want access to capital and expertise.
“Through both Ethos Broking Australia and Resilium Partners, we have been able to offer both brokers and authorised representative businesses a flexible way to achieve an optimum sale outcome,” Kitchin said. “I believe it is that flexible approach that has played a great part in our success with Ethos Broking Australia thus far.”
“We have partnered with business owners that want to stay in the business and to implement growth strategies, with our support,” Kitchin added. “Equally, for those business owners thinking about taking a step back, Ethos has provided an alternative to consolidation, bringing their business into a growing and connected group.”
The acquisitions are an impressive feat given that Ethos Broking name had only entered Australian territory in June 2021 through the British broker The Ardonagh Group. It was launched with a “strong pipeline” of businesses to be acquired or invested in.
Later that year, Ethos Broking had acquired Fassifern Insurance Services, Insurance Mentor and Cornerstone Risk Group.
