Change Makes Cents

Change can be an unexpected phenomenon. A wise man once said, ‘Man cannot discover new oceans unless he has the courage to lose sight of the shore.’

That man was André Gide, French author and winner of the Nobel Prize in Literature in 1947.  Many times, change is for the best.

On that note, spring is well and truly in the air and so is the sweet, sweet smell of acquisition!

Change is inevitable, and it’s a part of life. Sometimes you just have to go with the flow. But in the case of acquisitions, change can be a very positive thing.

Change

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Insurance Business is reporting that the Hollard Insurance Company will acquire Calibre Insurance from Munich Holdings of Australasia.

According to the article, Calibre currently has policies underwritten by Munich Re, a subsidiary of Great Lakes Australia. From the 1st April 2018, their policies will be underwritten by Hollard.

This is pretty exciting news, especially for Calibre CEO Mike Hooton, who said that the acquisition of the business will provide investment and backing for the firm, and allow them to fulfil their ambitions in the SME (small and medium-sized enterprise) commercial insurance market.

But wait, there’s more! Insurance News is also reporting that the brokerage giant Aon has expanded its presence in North Queensland with a new acquisition.

Aon has recently acquired Mark Kelly Insurance and Financial Services which has offices located in Ayr, Townsville and Ingham. Aon hopes this will strengthen its position as the leading North Queensland broker.

It’s hoping to deliver tailored broking experience to the unique needs of its North Queensland clients. Their needs are usually different from the rest of Australia’s due to the relatively high risk of severe weather events.

That’s the thing about change – sometimes, it just makes cents.

Words by Skye Jamieson