Sydney, 31 August 2015: ASX-listed Austbrokers Holdings Limited (ASX:AUB) today announced its new partnership with KJ Risk Group, specialists in corporate insurance, risk advice and alternative risk financing.
This acquisition continues Austbrokers Holdings’ disciplined focus in partnering with leading insurance brokers, underwriting agencies and risk services companies additionally adding complementary skill sets to the Group. The addition of KJ Risk Group’s skillset in the building and management of Discretionary Mutual Funds complements the breadth of capabilities already available across the Austbrokers broking network. KJ Risk Group is the broker for one of the largest Discretionary Mutual Funds in Australia, a major international property owner and food retailer as well as a leading pilots’ association.
“This significant acquisition is another milestone in delivering our sustainable growth strategy. KJ Risk Group enhances our existing capabilities and provides skills our broking Partners can offer to their association and franchise-style clients.” said Austbrokers Holdings CEO and Managing Director, Mark Searles.
“As I planned for retirement, the Austbrokers Owner-Driver model and proven track record in partnering with businesses was too compelling to ignore especially given their focus on enabling orderly succession. I have every confidence in the continued success of the business under the leadership of my colleague Justin Niven, with the support of Austbrokers as his partner,” said Keith Farrar, the founder and recently-retired CEO of KJ Risk Group.
Justin Niven has more than 11 years of experience in broking and operations and extensive expertise in the design, implementation and operation of Discretionary Mutual Funds. Justin holds a Bachelor of Commerce (Accounting) and a Graduate Diploma of Applied Finance and Investments. “This is a great opportunity to step up and lead a business I’ve worked in for the last six years and I look forward to the value Austbrokers provides for the future growth and success of the business, our staff and clients,” said Justin.
Mr Searles concludes “With 30 years of experience in establishing mutually beneficial partnerships, we know we have a unique and attractive offer to businesses considering partnership and succession. We’re proud of the success of our Owner-Driver business model, and we expect to continue to leverage it as a platform for sustainable growth. We look forward to working with KJ Risk Group, their staff and clients and importantly leveraging the skills they bring to our network.”