Coverforce acquire a 66% shareholding in Reliance insurance brokers

Coverforce acquires a 66% shareholding in Reliance insurance brokers

Coverforce Insurance Broking Pty Ltd (Coverforce) has completed the acquisition of a 66% shareholding in Reliance Insurance Brokers Pty Ltd (RIB). The RIB management team lead by Mr Jim Malady will continue to operate the business with the financial and administrative support of the wider Coverforce group.

RIB is a highly respected insurance brokerage known for its ability to deliver quality outcomes for clients through compelling product and service offerings. In recent years, RIB has established leadership positions in a number of insurance market segments.

Mr Jim Angelis, CEO of Coverforce, described RIB as a standout brokerage in the Australian insurance industry. “Jim Malady and his team have built a remarkable business with enormous potential for further growth. We are very excited about working with Jim to realise the significant opportunities this partnership will deliver.”

RIB’s Managing Director, Mr Jim Malady said, “We are delighted to join forces with Coverforce, a trusted brand and Australia’s largest privately owned insurance brokerage. This partnership provides us with significant opportunities and growth prospects. We look forward to working with Coverforce to build on the success my team have achieved over the past 10 years.”

Ultimately, the acquisition is about enriching the services we provide to our clients, and we are confident that our new partnership will enable us to serve them better than ever.

What will change?

Very little – what you will notice immediately is the rebranding from Reliance Insurance Broking t/as Australian Reliance to Coverforce Insurance Broking.

What will stay the same?

The management structure is unchanged with the brokers and claims staff who have worked closely with our clients continuing to do so.

If you have any questions about this exciting news, please do not hesitate to get in touch with the team at Coverforce Victoria on 1800 986 445.

February 22 2016

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