Envest acquires majority stake in Wellington Underwriting

21 March 2023

Ardonagh-owned Envest has acquired a majority stake in specialty property, labour hire and liability agency Wellington Underwriting.

Wellington places more than $30 million in gross written premium, has a national footprint and 13 staff, including shareholders and specialist underwriting managers Kevin Corkery, Megan Sheehan, Peter Gibb and Rob Hunt.

Envest Chief Commercial Officer & Head of Agencies Richard Heilig says with the aid of Envest, Wellington will continue its strong growth trajectory.

“Our agency strategy has always been to invest in businesses with the right people with specialist expertise and empower their growth through an owner driver model and shared back of house support,” Mr Heilig said.

“Wellington extends our level of expertise in our group around property, liability and labour hire and strengthens our brokers’ ability to place difficult and complex risks for their customers.”

Wellington was founded in 2018 by Brian Atkin and Colin Cowden. It started in Perth and now has offices in Hobart, Sydney and Brisbane.

“Wellington is a great success story,” Mr Atkin said. “We are a solutions-oriented business that supports quality distribution of insurance products for complex risks.”