BREAKING NEWS: Major insurer reveals latest acquisition

A leading Australian insurer has revealed its latest acquisition as it bolsters its services.

Insurance News

By Jordan Lynn

CGU Insurance has announced the purchase of global risk and emergency management group, Dynamiq.

A leading provider of on-site medical, security and emergency response solutions for both SMEs and large, multinational businesses around the world and locally, Dynamiq offers an around-the-clock global emergency support system to travel insurance providers.

Founded in 2005 by former Australian Special Forces Commander, Anthony Moorhouse, the business has over 180 staff with offices in Australia, Asia and the Americas.

Ben Bessell, IAG chief executive of commercial insurance, believes that the Dynamiq acquisition is in line with CGU’s strategy to enhance its services alongside its insurance products and is excited to introduce Dynamiq to CGU clients.

“Dynamiq is a great company, providing vital business support services, and we are excited to be able to offer these services to all of CGU’s partners and customers,” Bessell said.

“We see enormous opportunity to grow Dynamiq’s business and believe our partners and customers will value the additional capability we can now provide.”

Dynamiq will join IAG commercial agencies business, under EGM Phuong Ly, it was also announced.

Ly believes that the recently purchased company offers great potential as it already has a network of more than 75,000 medical, security and evacuation providers with Australia’s largest database of medical, security and emergency response personnel.

“We understand this business well and have great respect for the Dynamiq management team,” he said.

“We now have an enormous opportunity to grow Dynamiq substantially and I look forward to working with them to deliver on this potential.”

Keep up with the latest news and events

Join our mailing list, it’s free!