“Supercharged” Cornerstone buys Wollongong brokerage
“Supercharged” Cornerstone buys Wollongong brokerage | Insurance Business Australia
Insurance News
“Supercharged” Cornerstone buys Wollongong brokerage
Queensland firm consolidates in NSW
Insurance News
By
Daniel Wood
Cornerstone Risk Group, a Brisbane headquartered brokerage, has acquired MKS Insurance Services, a Wollongong based firm.
“Cornerstone Risk Group already has a large and growing presence in NSW,” said director Scott Mitchell (pictured above) in a media release. “However, the acquisition of MKS Insurance Services allows us to even further extend our geographic reach in the region.”
The release said MKS started operations in 2016 and has clients in NSW and the ACT “across an array of industries.”
The firm’s leaders have already joined the Brisbane firm. A message on their former website directed at customers says the acquisition was effective from April 2.
“Please be rest assured that this move will not have any effect on your current insurance policies,” continued the message. “Other than that you will now be dealing with Cornerstone Risk Group in addition to Sue, Michael and Koert.”
A Cornerstone post on LinkedIn said the buy-up comes after several other acquisitions by the Group in recent years.
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