Risk Advisory Partners has been named one of the Top Brokerages for 2023 by Insurance Business Australia.

The IB Top Brokerages 2023 awards recognise insurance brokerage firms that thrived despite the various challenges facing the Australian insurance industry this year.

IB identified the best insurance brokerage firms in Australia by inviting brokerages across the country to submit nominations. To be eligible, brokerages must have three or more brokers and be headquartered in Australia.

The IB team then ranked the nominees based on the following criteria:

• number of clients
• client growth
• clients per broker
• policies written
• policies written per broker
• revenue
• revenue per broker
• revenue per policy
• policy revenue growth

As in previous years, each nominee supplied its details for the 2022/23 financial year. The nominees were then scored and ranked in order for each of the above criteria – and the one with the lowest cumulative total across all criteria received the top overall ranking.

One of the best insurance brokerages in Australia

Risk Advisory Partners, led by director Jay Jay Zhu, manages complex risk programs for large SME and corporate clients.

The brokerage has been recognised as one of the best in Australia this year for knowing what risks are and how to manage them. It also has strong specialisations within:

• construction and finance-related professional indemnity policies
• large, commercial, retail, office, strata, and industrial property portfolios
•  manufacturing
• childcare operations
• hard-to-place assets and industries

See the rest of the list of winners and what made them dominate the market by reading the IB Top Brokerages 2023 special report.