Revealed – Australia’s fast insurance brokerages

Revealed – Australia’s fast insurance brokerages | Insurance Business Australia

Insurance News

Revealed – Australia’s fast insurance brokerages

Awards highlight standout growth in a competitive insurance market

Insurance News

By
Roxanne Libatique

Insurance Business Australia (IB) has revealed the winners of its 2024 Fast Brokerages and Fast Starters awards, spotlighting standout growth in the nation’s insurance industry.

In January 2024, the publication initiated a call for entries from brokerages throughout Australia. The initiative was designed to identify firms that have thrived in the face of economic challenges.

Selection process for 2024 Fast Brokerages and Fast Starters awards

Applicants were asked to provide financial data, including revenue figures for 2022 and 2023, as well as additional achievements that marked their growth. These details were meticulously assessed to select the brokerages with the most impressive growth trajectories.

The criteria for the 2024 Fast Brokerages awards required brokerages to demonstrate at least a 20% increase in combined gross written premiums (GWP) and revenue. This year, 16 firms met this criterion and were recognised accordingly.

The Fast Starters category honours six newer brokerages, each in operation for less than three years, that have quickly made a significant impact on the insurance market. These firms have not only shown resilience but have also solidified their market positions.