National law firm Mills Oakley has acquired Sydney-based insurance firm Vardanega Roberts to expand its insurance practice.
Vardanega Roberts has been operating for 30 years, acting for major Australian and global insurers, Lloyd's syndicates, and self-insurers in public and products liability, strata insurance, professional indemnity, property, workers' compensation, compulsory third party (CTP), and insurance recoveries in all classes.
As part of the deal, partners Stephen Vardanega and Mike Roberts and their team will move to Mills Oakley, effective October 01.
Read more: Mills Oakley bolsters insurance offering
Commenting on the move, Vardanega said Wills Oakley was the logical partner for the Sydney firm due to being a clear market leader in the Australian insurance space with a complete alignment of culture and values.
“It is well documented that insurers are increasingly seeking law firms with a national footprint and the capability to offer a seamless service across multiple specialisations and jurisdictions,” he said. “We are excited about what the combined practice will offer our clients and staff.”
Mills Oakley CEO John Nerurker said the two firms have several similarities, including having a “compelling growth story.”
“Mike and Steve opened their doors as a start-up and steadily built their reputation and profile,” he said. “They achieved this by staying true to their values: hard work, excellence, and a relentless client focus. Their story is reminiscent of Mills Oakley in Sydney, where we launched with a lean three-partner team which blossomed into a 50-partner practice in less than 15 years. It is fitting that two of our original Sydney partners, Daren Curry and Stephen Aroney, are insurance specialists and played an instrumental role in us joining forces with Vardanega Roberts today.”