Thursday, March 16, 2023

Return to listings

Honan eyes greater NZ market share with Certus Insurance Brokers acquisition

Honan Insurance Group (Honan), one of Australia and New Zealand’s fastest-growing brokers, has boosted its service capability and reach in the New Zealand market through the acquisition of established general brokerage, Certus Insurance Brokers (CIBNZ). 

With a highly-respected team of 15 risk advisors, brokers and general insurance specialists operating across two offices in central and regional Auckland, CIBNZ directors and management bring more than 90 years of general insurance and local market expertise into the Honan Group.


Established in 2001 with a vision to deliver a world-class brokerage service, CIBNZ provides personalised risk advice and insurance to a diverse range of clients, built on skill, experience, integrity and professionalism.


The acquisition signifies Honan’s continued growth ambition and diversification into the booming New Zealand market, which saw national Gross Written Premiums totaling more than $7 billion in 2021.


M&A activity continues to be a defining strategic pillar for Honan, having acquired six businesses since July last year, including Carollo Horton, ATIA, Trumpet Financial, and Ardrossan, driving a compounded annual growth rate of 35% over the last three years.


Honan Chief Executive Officer, Andrew Fluitsma, said:

“New Zealand has been an important market for Honan’s clients since we established our first local office in Auckland in 2010. The acquisition of CIBNZ now gives us the regional expertise backed by the Honan firepower to rapidly expand our share of the Antipodean market.”


“It has been an intense 12 months of M&A activity, but I’m proud to say we’ve become damn good at acquiring businesses. From the legal, financial and compliance side, to the operations and cultural integration, our team have the capabilities to seamlessly bring businesses into the Honan Group and immediately deliver value.


“The result has seen our business deepen its sector expertise and expand our reach, all while maintaining our challenger brand ethos and premium client experience when compared to the industry behemoths.”


CIBNZ General Manager, Mark Gustafson, said:

“After building Certus Insurance Brokers into a successful independent brokerage specialising in SME and domestic insurance, now is the right time to become part of a larger and progressive Group.”


We’re excited to become part of a dynamic and diverse brokerage with a strong regional footprint. Our values and growth aspirations are aligned in delivering a world-class broker proposition. In joining with Honan it will allow us to tap into a broad range of expertise that will significantly strengthen our customer proposition and business operations.”


Chief Executive Officer of industry broking collective - NZbrokers, Jo Mason, said:

“This is an exciting moment for NZbrokers as the Honan acquisition of CIBNZ will bring new opportunities for growth. Certus is a well-established and respected member of NZbrokers and has a long track record of success.
We believe the Honan expertise and resources will complement CIBNZ’s existing strengths and it is great for the new team to recognise the value that being part of New Zealand’s largest broker network brings to them. We are committed to helping Honan/CIBNZ ensure a smooth transition and we welcome them into our family!”


The acquisition will see the business join the Honan family, continuing to operate under the Certus Insurance Brokers name.

Return to listings


Honan Insurance Group Pty Ltd is now fully owned by Marsh Pty Ltd. To find out more, speak to your broker or read the announcement