Brisbane-based Austbrokers Comsure (AB Comsure) – formed in 2020 through the merger of Comsure, Bestmark, and Citycover – has acquired Queensland-based CE McDonald Insurance Brokers (CE McDonald).
Established in the late 1960s by John McDonald, CE McDonald was run by well-known Sydney broker Trevor McWhirter for many years. It is based in Darra in western Brisbane.
The acquisition will see the Queensland-based brokerage move to AB Comsure’s Springfield office, southwest of Brisbane, next year, after the integration of systems and processes. The deal brings the total staff number of AB Comsure to over 70.
AB Comsure managing director Ian Garbutt said CE McDonald’s focus on motor vehicle distribution and allied industries, a key specialisation for both brokerages, fit well with the company’s strength in risk management and program design.
“There were obvious synergies and CE McDonald was already part of the Austbrokers network,” 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 managing director Jackie McDonald (no relation to John McDonald), who has 44 years of experience in the insurance industry, including 32 with CE McDonald, added: “We’ll be the single largest motor dealer insurance broker in Australia. Combining our deep motor dealership knowledge and experience with the AB Comsure team is a wonderful opportunity.”
Deemed a significant milestone for the business, the deal is expected to expand AB Comsure’s footprint and diversify its people, enabling employees to grow and advance while gaining access to additional employee benefits.
“This is an exciting milestone for our business as we significantly bolster our motor dealership portfolio and skills,” Garbutt said.
The acquisition is part of AB Comsure’s overall growth strategy and follows New South Wales-based WRI Insurance Brokers’ decision to join the AB Comsure network in 2021.
In separate news, earlier this year, independent specialist re/insurance broker BMS Group (BMS) acquired Austbrokers Coast to Coast (C2C).