Honan appoints CFO as business pursues growth plans

Honan appoints CFO as business pursues growth plans

5 July 2022

Honan Insurance Group has appointed Jacob Gunzburg to the newly created position of Chief Financial Officer as the business pursues growth ambitions.

The group says Mr Gunzburg will oversee more than $500 million in premiums and $100 million in revenue and will be responsible for the strategic financial management of merger and acquisition (M&A) activity and integration.

“Jacob will bring strategic stewardship and statutory oversight to the accounting and finance function of our rapidly growing business,” CEO Andrew Fluitsma said today.

“We are now a business of more than 350 people and Jacob’s appointment reflects our lofty ambitions to close the gap on our bigger competitors and continue to challenge larger institutional brokers.”

Mr Gunzburg has more than 22 years’ experience encompassing financial reporting, corporate accounting, M&A and financial risk management. Previously, he has held senior finance positions at Downer and Spotless Group and has experience at KPMG.

“This is my first foray into the insurance industry and Honan’s challenger mentality and desire to do things differently is what attracted me to the role,” he said.

The strategic financial management of the business previously fell within the remit of COO Laurence Basell, but the company says a compounded annual growth rate of over 25% over the last three years, has driven the need for a standalone CFO role.

Honan, founded in 1964, has offices in Australia, New Zealand, Singapore and Malaysia. US-based private equity firm TA Associates made a strategic investment in the group in 2020, underscoring the broker’s M&A ambitions.

Mr Gunzburg will be based in Honan’s Melbourne office.