Insurance brokers form an essential part of Australia’s insurance industry. According to the National Insurance Brokers Association (NIBA), there are about 15,000 brokers and authorised representatives (ARs) across the country. Industry data shows that brokers place about half of the total insurance business in Australia each year.
The Insurance Business Awards 2025 is an opportunity to celebrate their achievements. This year the black-tie event is at the Hilton Hotel in Sydney on May 2. Brokers are a major focus of the night. Seven of the awards are open to brokers or authorised representatives (ARs).
“Brokers play a pivotal role in helping our clients navigate the increasingly complex and fast-evolving risks they face,” said Stephen Nguyen (pictured left).
Nguyen is head of distribution Australia for AXA XL, sponsor of the Medium Brokerage of the Year Award.
In recent years, brokers have reported that navigating risks for their clients requires increasing amounts of risk management. According to some industry reports and interviews, intensifying demand from customers is one of the biggest current challenges facing brokers.
In this environment, these insurance professionals require talent and conviction, arguably more than ever before.
“Our industry’s remarkable work is exemplified by the talented and passionate brokers within medium brokerages,” said Nguyen.
The award is for firms with six to 20 staff. This year there are seven excellence awardees: allinsure, Bell Partners Insurance, Clear Insurance, Elliott Insurance The Green Broker, FD Beck Insurance Brokers , Grace Insurance and Trade Risk.
Australia Underwriting (AU) is sponsoring the Broker of the Year award. George Vincent (pictured centre), the firm’s director, expressed similar positive sentiments towards brokers. He said he was “thrilled” to support this prize.
“We are immensely grateful for your continued partnership and the exceptional work brokers do each day,” said Vincent.
The brokers competing for this year’s prize are: Abbie Wilson from National Insurance Brokers; Aimee Henderson from Grace Insurance; Kylie Stephens with PSC Insurance Brokers; Shane Brady from Stone Lane Broking & Risk Advisory; Tanushree Arora Sopori from Fortuna Insurance Services (previously Imperium Insurance); and, Tryan Christos with Interlink Insurance Brokers.
The work of brokers is expanding into more industry sectors. Anecdotal evidence suggests travel is a growing area of business for intermediaries.
Some industry stakeholders say brokers are playing an important role bringing new travel insurance offerings to the market. Brokers, they say, are also encouraging insurance carriers to adopt new and niche coverage offerings.
“Within the travel insurance market, and in the Australian market specifically, the brokerage community is very, very strong,” said Sasha Gainullin, CEO of battleface, an insurer-backed provider of tech-focused travel coverage offerings, in a recent IB interview.
The Large Broker of the Year Award is open to brokerages with more than 20 staff in Australia. The field of excellence awardees competing for the final prize is traditionally very competitive.
“The Large Broker of the year has an outstanding list of previous winners, and we are excited to sponsor this award as we grow our footprint in the Australian Market,” said Michael Faulkner (pictured right). Faulkner is distribution and engagement lead for Arch Insurance, the sponsor of the award.
Guardian Insurance Brokers, Interlink Insurance Brokers and McLardy McShane Partners are this year’s excellence awardees.
There are 21 awards in total targeting the work of brokers, ARs, claims teams, underwriters, insurers, BDMs, insurtechs and industry service providers.
Included are a range of individual awards, including the Lifetime Achievement prize, CEO of the Year and Woman of Distinction.
Efforts in community service are also recognized and so are firms achieving Excellence in Diversity, Equity and Inclusion.
The evening involves a black-tie gala dinner, music and entertainment.
The night’s MC is a personality described by Rolling Stone magazine as one of top 50 living Australian and NZ entertainment Icons: Dave Hughes, a regular on television and radio and probably best known for a larrikin personality and deadpan delivery.
Party Band’s “Modern Vintage” musicians will provide the music.
