Cornerstone Risk Group is now part of Resilium Partners – the entity introduced alongside Ethos Broking Australia earlier this year following the majority investment by top British name The Ardonagh Group into Resilium Insurance Broking.
“We are excited to announce that we have been successful in acquiring and bringing onboard Queensland-based Cornerstone Risk,” said Ardonagh Australia chair Paul Lynam, who together with Resilium Partners executive director Adrian Kitchin has been “incredibly busy” since the Ardonagh deal.
The Cornerstone swoop, financial terms of which were not disclosed, follows the purchase of Fassifern Insurance Services.
“We are thrilled to have joined the group and already have our own established pipeline to acquire like-minded insurance businesses,” stated joint managing directors Damien Mulvenna and Scott Mitchell, whose firm has offices in Brisbane and Toowoomba.
“We are excited to be working with Resilium Partners and Ardonagh and look forward to announcing our own acquisitions over the coming months.”
Specialising in all forms of business, commercial, and personal insurances, Cornerstone supports clients throughout Australia.
Kitchin, who is also the chief executive of Ethos Broking Australia, commented: “We are thrilled with the growth of both Resilium Partners and Ethos Broking in such a relatively short period of time. We expect to announce a number of additional acquisitions in coming months.”