I am pleased to announce a significant development that will shape the future of our business: the strategic integration of Network Insurance Group and Insurance House.
This opportunity, identified and led by Scott Leis and me, aims to strengthen our respective market positions, expand our extensive capabilities, and enhance our ability to deliver exceptional value and innovative solutions to our clients. As we combine the tremendous strengths and expertise of both businesses, we will create a rewarding culture that leverages the best of our current practices and create a more robust and sustainable organisation.
Both Network Insurance Group and Insurance House have a proud history of serving businesses and individuals, earning strong reputations for our client-centric focus and deep industry knowledge offering unparalleled service and industry-leading risk advisory solutions to circa 60,000 valued clients. This generates over $800m in GWP and $100m of revenue.
I am honoured to have been appointed CEO of the combined entity and excited to lead the organisation into this new chapter. I am committed to building on the strong foundations of both Network Insurance Group and Insurance House to create a successful and thriving future for our clients, our people and our business.
I would also like to express my sincere gratitude to Scott Leis, CEO of Insurance House, for his invaluable contribution to the success of Insurance House to date. Scott will remain with Steadfast Group and work directly with us for a period of time to help ensure the successful integration of our businesses. Scott shared his vision for this initiative by stating, “Bringing our businesses together is a transformative moment not only for us, but for our industry. By combining our strengths, we have the opportunity to create a more diversified, resilient and innovative organisation.”
In consultation with Steadfast, we have established a dedicated project working group to oversee the integration process. We will keep you updated throughout the process, providing regular communication on our progress including key milestones.
For a more in-depth overview of the integration, please refer to the attached Q&A document.
One of our first priorities will involve the immediate consolidation of Capital Innovation Group in Tasmania to Network Insurance Group. This will create a market leading brokerage in Tasmania and bring together two highly experienced teams, to create synergies and improved efficiency in delivering comprehensive risk advisory solutions to our clients.
Additionally, the Melbourne-based Network Insurance Group broking team will relocate to our new CBD Melbourne premises at La Trobe Street in February 2025.
Thank you for your continued contributions. Your support and commitment are invaluable to us and will be instrumental to our ongoing success.
I look forward to meeting you over the coming months.
Best,
Chief Executive Officer
Network Insurance Group