One of Australia's largest privately-owned insurance brokerages has gained a major investor this week while also welcoming AMP’s former chief executive to the senior leadership team.
Today, Insurance House announced that a significant minority investment from Yorkway Partners had been finalised with both firms set to work closely in future to drive further growth for the business.
“Yorkway brings significant industry knowledge, expertise and networks to the table, both through the Yorkway team and individual investors within the Yorkway consortium,” said Jay Fereday, managing director of Insurance House.
Strategically, the partnership presents a clear opportunity for Insurance House to secure itself as a prominent player in regional Australia – with an established network of offices and authorised representatives over 60 locations, the new investment offers a capital injection necessary for expansion.
The move also signals an important step forward for Insurance House, enabling greater investment in product and service delivery. This commitment includes furthering the traditional face-to-face broker advice model as well as enhancing its digital delivery of insurance solutions.
Yorkway founder and former AMP CEO Paul Batchelor will also play a key role in the investment, joining the Insurance House board of directors.
“We are delighted to be partnering with Insurance House, a business in a market leading position with a strong managing director, experienced management team and well poised for future growth,” said Batchelor, who also revealed that the growth strategy will include complementary acquisitions to add “scale and revenue synergies”.