Australia’s Top 10 brokerages revealed

By: MGA/ Whittles Group  07-Aug-2013
Keywords: Business Insurance, Car Insurance, Travel Insurance

Insurance Business has announced its Top 10 Insurance Brokerages rankings for 2012, with those making the list from a strong field of entries. Who is Australia’s top insurance brokerage? The inaugural Insurance Business Top 10 Brokerages ranking has, for the first time ever, offered an independent ranking of the very finest firms in the brokerage space. It is a landmark moment for insurance broking in Australia and sets the marker of achievement for every brokerage to aspire towards. METHODOLOGY The Insurance Business ranking system is an entirely objective means of ranking the best performing insurance brokerages in the country. Due to the advanced and detailed information needed, each brokerage had to supply their own details to Insurance Business to be eligible. When we talk of performance though, this is not just about the biggest firm with the most resources. We aimed to reward the smaller firms punching above their weight. In total, there were eight measurements, covering: • total revenue • policies written • revenue per broker • policies per broker • new clients per broker • new revenue per broker • company growth • client retention Every brokerage who entered was then ranked in each of these measurements and the sum of all of their rankings were added together. The brokerages were then placed in order of who had the lowest overall score (think of it as a golf score, where having higher rankings in each section means you have a lower total score). By inviting only locally-headquartered brokerages to enter (excluding the giant global brokerages) and ensuring that the majority of our measurements rewarded business per broker rather than just critical mass, the very best brokerages were rewarded rather than just those producing a critical mass of business (one of the top five has less than 10 brokers working for them). Insurance Business Top 10 Brokerages 2012 Position Brokerage 1 MGA Insurance Brokers 2 Mega Capital 3 Roderick Insurance Brokers 4 Unity Insurance Brokers 5 Insurance Advisernet Australia 6 Brookvale Insurance Brokers 7 Lea Insurance Brokers 8 Scott Winton Insurance Brokers 9 LTM Risk Partners 10 BJS Insurance Group “We were absolutely delighted when advised that we had been successful in winning the Top 10 Broker title,” said MGA’s general manager, Paul George. “To be recognised like this is very exciting for everyone at MGA and extremely humbling for us.” (Article courtesy of Insurance Business Online email - 28th September 2012)

Keywords: Business Insurance, Car Insurance, Contents Insurance, Farm Insurance, Home and Contents Insurance, Landlord Insurance, Motor Insurance, Travel Insurance

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