Broker merger creates corporate, SME specialist
Fitzpatrick, Arete and Amicus Merge
8th February 2024, (Melb, AEST):
Envest Group today announced it would bring together three of its broking businesses to create a full-service insurance broker with specialist SME and corporate risk and advisory services called Aviso Specialty, Insurance and Risk Advisory.
Fitzpatrick & Co Insurance Brokers, Arete Risk and Insurance Solutions and Amicus Insurance Services will collectively write more than $260M in GWP and employ 130+ staff.
Led by Travis Kemp, the merged business will include the leadership team of Fitzpatrick, Arete and Amicus with a target completion date of 30 June 2024.
Mr Kemp said the new combined entity would leverage and build on the scale, reach, people and collective experience of the group, with a goal to become a pre-eminent and recognised provider of a full suite of risk and insurance solutions.
“This project brings together the 30years of service and history in the Fitz & Co operations instituted by Aviso Group founding member and former Envest Board Chairman Barry Fitzpatrick, with a new Aviso corporate risk advisory business “Arete” which has been established by former Pacific Region Marsh CEO and Aviso Group Board Member John Clayton and led by CEO Phil Sholl.
“We’re also adding a Queensland base for our operations, with former Resilium AR business, Amicus joining the new entity under the leadership of Stuart Munro.”
“The goal is to operate all three businesses under one structure with Fitzpatricks’ current GM Daniel Holmes leading the general insurance broking team and Stuart Munro leading the corporate and risk solutions team.”
Melbourne based Barry Fitzpatrick said it was an exciting time for the Aviso Group and a great opportunity to be part of new full-service operation that would compete in every part of the insurance broking value chain.
“I’m very excited for the future of this business, bringing in a new generation and opportunities for our clients, staff and partners,” Mr Fitzpatrick said.
“There are lots of gains to be made by working collaboratively especially in the current regulatory market. We need size, strength, and scale to deliver the best outcomes for our clients and staff.”
Arete founders John Clayton and Phil Sholl said the insurance landscape was ready for a new full service, corporate risk and advisory challenger.
“We’ve had a clear aspiration with Arete to deliver a nimble corporate broking service to the market that has access to the full suite of products at a competitive price point,” Mr Clayton said.
“Our strategy is to offer risk consulting and insurance broking services to corporate clients in a seamless manner. This extends to industry and product specific solutions, delivered by experienced risk and insurance professionals.”.
ABOUT FITZ
Fitzpatrick & Co is a general insurance broker located in Glen Waverly (VIC), with specialty expertise in small to medium businesses and schemes/facilities for Horticultural businesses.
Fitzpatrick & Co was one of the founding members of Aviso and Envest Groups, a subsidiary of a global insurance distribution platform, The Ardonagh Group.
Established by Barry Fitzpatrick more than 30 years ago, the business writes more than $120m in GWP and employs 80+ staff. Mr Fitzpatrick is the former chairman of Envest and currently is an active board member and advisor to the Group.
ABOUT ARETE
Arete was established in 2023 under the leadership of CEO Phil Sholl and Chairman John Clayton. John is the former Pacific Region CEO of global corporate insurance brand Marsh and Phil is the former CEO of Wymark Insurance Brokers.
Arete provides a bespoke risk advisory service to corporate clients, supported by a national and international network of businesses and insurance suppliers. The business has grown rapidly in the last 12 months and was forecast to write circ $140M GWP and employ 45 staff in 2024.
ABOUT AMICUS
For over 20 years Amicus Insurance Services has been serving the insurance needs of clients across Queensland and NSW, helping individuals, tradespeople, business owners, and professionals obtain sufficient insurance coverage should the unexpected happen.
Amicus is an authorised representative of Resilium Insurance Broking, which wholly owned by The Envest Group, a subsidiary of a global insurance distribution platform, The Ardonagh Group.
Former Marsh & McLennan National Leader Commercial, Stuart Munro has been consulting with Amicus since March 2023 and was appointed CEO in December.