Kelly and Partners and Austbrokers enter partnership
Kelly and Partners has entered a partnership with Austbrokers to market and deliver a mixture of insurance broking, accounting and tax services to the members of both firms.
The partnership would take advantage of the services and systems of both firms, which included the Austbrokers ExpressCover platform which would be used to underpin a significant portion of the general insurance activities of the new partnership.
Service offers included:
- The provision of general and life insurance broking services to Kelly and Partners’ approximately 8,000 clients and members under a new operation, “Austbrokers Kelly and Partners” which would be 50/50 owned by Austbrokers and a Kelly and Partners controlled entity. The lead broker would have 49% equity interest in the Kelly and Partners controlled entity, in life with the KPG Partner Owned Driver model;
- General insurance advice and services to Kelly Partners Group Holdings;
- Accounting and tax services to Austbrokers’ 700,000 clients and members;
- Design and delivery of tailored solutions for Kelly and Partners clients which included a tax and government audit insurance product as well as speciality HR technical services; and
- The development of tailored insurance, tax and accounting advisory services for the strata industry.
Brett Kelly, KPG chair and chief executive, said Austbrokers had pioneered in 1985 and continued to operate a “much admired” owner driver model in the insurance broking market.
“KPG’s approach in the private business owner accounting market has similarly originated a partner owner driver model since 2006 with continuing success,” Kelly said.
Mike Emmett, Austbrokers chief executive and managing director, said the partnership was a natural next step in the relationship between two organisations with very similar DNA.
“The ability to focus Austbroker Group’s diverse capabilities including corporate broking, the benefits of our straight-through technology, ExpressCover, and the specialist product design features of our underwriting agencies complemented by Kelly and Partners’ entrepreneurial approach to accounting and tax advice anAnchord the strong service ethic and trust relationship they have with their clients will deliver excellent benefits to both organisations and to our respective clients,” Emmett said.