Australia’s Envest Group has acquired a majority stake in Bendigo Insurance Brokers and will integrate the business into the Aviso Group network, part of Envest’s portfolio.
Bendigo Insurance Brokers is a regional Victorian broker which was established 35 years ago and has a team of 11 and GWP of AU$20.6m (US$13.3m). The intermediary covers a range of business lines, including financial lines, trades, personal lines, and specialty.
This acquisition is set to increase Aviso Group’s gross written premium (GWP) to AU$954.6m,.
Aviso CEO, Travis Kemp, said that the partnership strengthens the group’s regional presence and adds value “through the exceptional people that make up Bendigo Insurance Brokers.”
Phil Hetherington, Managing Director of Bendigo Insurance Brokers, added, ““The time for this move is now. Working with Envest means joining forces with a growing leader in our industry, and I believe there has never been a better moment.”
Envest is part of The Ardonagh Group, after the latter acquired the Brisbane-headquartered business in a deal valued at AU$482m in 2023.
