A broking network with more than 30 years’ experience and 50 brokerages across Australia has announced a new acquisition and the creation of its largest brokerage in Queensland.
Austbrokers has agreed to buy 100% of Bestmark Insurance from Ian Garbutt, director and principal. After the acquisition, Bestmark will be merged with Comsure and Citycover to operate as Austbrokers Comsure, with the existing broking principals in each business forming a new management team. Garbutt will assume the role of CEO.
“I’m delighted to welcome Ian and the team to Austbrokers,” said Mike Emmet, AUB Group and Austbrokers managing director and CEO. “The merger of Comsure and Citycover with the newly acquired Bestmark Insurance Brokers significantly enhances the Austbrokers’ network and will form a core pillar of our strength in Queensland. The combined business will increase the scale and breadth of skills that our clients are looking for and will allow us to better service and grow in the Brisbane and broader Queensland market.”