Sunday, October 22, 2023

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M&A activity at Honan: Citadel Insurance

Kicking off our M&A activity for FY24, we proudly welcomed Citadel Insurance into the Honan family of brands, which includes Certus, Carollo Horton, ATIA, Trumpet, and Rehab Life. To introduce you to our latest addition, we sat down with Nicholas Bedggood, Principal and founder of Citadel Insurance to share a little about himself, the brand, and his ambitions for FY24 and beyond.

Established: 2016

Location: Newcastle, NSW

Joined Honan: September 2023

1. What is the crux of Citadel Insurance?

It is all about being available and providing honest and exceptional service. These components have contributed to Citadel’s success over the years.


2. Can you tell us a little about how Citadel Insurance came to be?


I was selling boats in Sydney and my wife Lucy and I were about to have our first child. Lucy suggested that I might want to get a job that paid better. I used to have a beer with a general broker at the Greengate Hotel on the North Shore in Sydney and he always seemed to be doing well. It was then I had my epiphany moment – ‘everyone needs insurance, not everyone needs a boat’ – so it was then that I decided to make the move into insurance.


3. People who work in insurance often say they ‘fell’ into it. As a child, what did you want to be when you ‘grew up’?


Really simple, an airline pilot like my uncle but mathematics and I never really got on as well as we should have. I’ve worked in fashion, stockbroking, the marine industry, and now general insurance.

4. What is the biggest risk you’ve ever taken in work or life, and did it pay off?


Participating in four Sydney to Hobart Yacht races – best thing I’ve ever done.


5. Who is somebody who has influenced/inspired you most in your career, and why?


Actually no one person in particular to be honest. My inspiration has been to observe that passion and hard work do actually pay off……plus Shane Warne – the King!


6. What are you most excited about for the business over the next 12 months?


Growing Honan in Newcastle and Sydney under the Citadel banner, particularly in the marine space.


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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