One of Australia’s most prominent authorised representative networks has shared details about its performance over the last 12 months, with strong growth across the board.
Insurance Advisernet, Australia’s largest AR network in terms of GWP, announced at its annual conference last week that it had brokered $600 million worth of GWP this year – a 21% jump from last year.
The group’s brokerage income also increased 12% on last year, with earnings reaching $75 million. Insurance Advisernet additionally welcomed 18 new practices and has seen staff numbers grow by 70, to form a workforce of 770 people.
The group has also attracted over 1,000 new clients a month and now services 75,000 customers.
Founder and chairman Ian Carr was understandably pleased with the results but said Insurance Advisernet is not putting growth before all else.
“We are not interested in growth for growth’s sake,” he told Insurance Business. “We have focussed on continuing to build on our compliant systems and processes, and recruiting and retaining high quality professional insurance advisers.”
Presentations from the recent Canberra conference reflected Carr’s assertion, focusing on the group’s robust compliance culture which is essential in a changing regulatory environment.
Other keynote presentations were delivered by several prominent figures, including Mark Riley, Lisa Wilkinson, Dylan Alcott, Anthony Laye and Yossi Ghinsberg. Attendees included ARs from Australia and brokers from New Zealand, as well as insurer and service partners from both countries.