Founded in 1990, Stirling-based Austral Risk Services has established its presence in the Western Australian (WA) small and medium-sized business (SME) market. It provides risk advice and business insurance solutions for clients in the labour hire, mining services, transport, manufacturing, agribusiness, retail, and professional services sectors. Its Transport Insurance Consultants business supports the small charter vehicle industry and serves more than half of Perth's taxi and limousine market.
The acquisition will see all Austral Risk Services employees join Marsh.
Marsh Pacific CEO Nick Harris said the deal is part of Marsh's ambitious growth plans in WA.
“[Austral Risk Services'] strong client-centric values, which mirror those of Marsh, mean that our combined team will be able to provide even greater support to businesses in WA as they build their resilience to both regional and global challenges,” Harris said.
Steve Halbert, managing director of Austral Risk Services, added that joining Marsh provides clients with more access to world-leading innovative resources and solutions and benefits the firm's employees in many ways, including new training and development opportunities.
“I am excited to build on our shared commitment to serving clients, finding innovative solutions to the challenges they face and delivering on our promises in a complex global risk environment,” Halbert said.
Marsh's parent company, Marsh McLennan recently published its financial results for the first quarter of 2023, reporting US$5.9 billion in revenue, a 7% increase compared to the same period last year.
