Envest acquires majority share in Insuret

Envest has acquired a majority stake in Insuret, a specialist underwriting agency in rental car fleet insurance and the emerging “mobility fleet market”.

10 October 2023, (Brisbane, AEST):

Envest Chief Commercial Officer Richard Heilig said Insuret was a well-established agency with tremendous growth potential and good cultural alignment with the Envest Group.

Established in 2007 by Jason McDonnell in partnership with Hollard, Insuret offers traditional car rental, car share, ride share, peer2peer and subscription fleet programs distributed via insurance brokers and directly to customers.

“Insuret is a niche underwriting agency with a strong book of business, established systems and processes that will complement our existing portfolio of owner-operated agencies and brokers,” Mr Heilig said.

“Like many of our other agencies, the strength of Insuret is its strong relationships with its insurer and clients. Managing Director and shareholder Jason McDonnell has created a business with a significant competitive and first mover advantage.”

Managing Director Jason McDonnell said he was excited about the next chapter for Insuret in partnership with Envest and the ongoing evolution and growth of car-sharing and fleet programs.

“Due to changing economic, social, environmental and technological conditions, our market is expanding rapidly, and many of our customers are seeking international expansion.”

“We have a strong 16-year partnership with Hollard, which is set to continue, and our new relationship with Envest will help us further support our customers with international growth due to the wider Envest connection with Ardonagh.”

Insuret currently offers customers a full suite of insurance, accident management systems and platforms to support its customers.

Jason McDonnell will remain a co-owner and Managing Director of the Brisbane-based, national business. Insuret – insurance for fleet businesses