Howden has acquired CorpSure Cairns Pty Ltd, a general insurance brokerage based in Cairns, in a move that extends the group’s presence in Far North Queensland (FNQ) and adds to its Australian network.
CorpSure Cairns was founded in 2017 by directors Amanda Bryant and Justin Williams. The firm arranges commercial and domestic insurance for clients in Cairns and across FNQ. Under the transaction, Bryant and Williams will remain with the business, continue to service existing clients, and pursue further regional growth as part of Howden Group.
The deal is part of Howden’s plan to increase its geographic reach in Australia and build out specialist capabilities. CorpSure Cairns brings experience in strata and body corporate insurance, a class that already forms a significant part of Howden’s portfolio in Australia and New Zealand. For insurers and underwriting agencies, the acquisition introduces another international broker into the FNQ market, where capacity, pricing, and coverage terms are influenced by cyclone, flood, and other catastrophe exposures, particularly for strata and body corporate risks.
As part of the integration, CorpSure Cairns will work with Howden’s Queensland leadership, including head of corporate risks in Queensland, Grant Rovelli. Based in the state and originally from Mackay, Rovelli will act as a link between the Cairns office and Howden’s broader Queensland and national operations, supporting client servicing and new business activity.
Bryant said alignment in culture and business approach played a key role in the decision to join the global broker. “The decision to join Howden was easy. Their culture aligns with ours and this partnership allows us to enhance the solutions, access to products, extensive support, and overall elevate the service we provide to our valued clients through expanded services, expertise, and market access. We are excited to be part of an organisation that truly puts people first,” she said.
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Williams said the transaction is intended to support CorpSure Cairns’ plans for regional expansion while maintaining its existing client focus. “We felt there was a natural fit for CorpSure Cairns within Howden and see a lot of synergy between the businesses. This partnership strengthens our ability to grow, particularly in FNQ, while continuing to build long-term relationships through delivering outstanding client service,” he said.
Matt Bacon, CEO of Howden Pacific, described the Cairns business as consistent with the group’s regional strategy. “We are thrilled to welcome CorpSure Cairns to the Howden family. Along with their specialist knowledge and local expertise, which perfectly complement our existing business, we share the same values – a commitment to putting people first, building long-term relationships, and delivering client-centric solutions. With Grant Rovelli’s support, we are excited to deliver unparalleled service and broaden our offering to businesses and communities in Cairns and beyond,” he said.
The acquisition increases Howden’s activity in strata and body corporate insurance in a region where exposure to natural perils is a central feature of risk placement. FNQ apartment and mixed-use developments are subject to cyclone and flood risk, and insurers’ appetite and capacity for these classes continue to be closely monitored by brokers, underwriters, and strata managers.
For carriers and managing general agents, the combined Howden–CorpSure Cairns operation may influence distribution patterns in northern Queensland, including panel decisions, facility design, and risk engineering support. The Cairns office is expected to draw on Howden’s national and international market access while maintaining CorpSure Cairns’ local relationships with property managers, body corporate managers, and small to medium-sized enterprises. Howden’s entry into Cairns also aligns with a broader pattern of global brokers extending into regional centres, adding scale in markets that are exposed to natural catastrophes and where placement structures are often complex.
The CorpSure Cairns acquisition follows a year of growth for Howden Group, which reported higher revenue and earnings for the financial year ended Sept. 30, 2024 (FY24). Adjusted revenue increased 23% to £3.01 billion, up from £2.44 billion in the previous financial year. Organic revenue growth reached 15%, compared with 13% in FY23. Adjusted consolidated EBITDA rose to £922.2 million. The group recorded an EBITDA margin of 31%, slightly lower than 32% a year earlier.
Across its main divisions, Howden reported that its insurance broking business achieved 14% organic revenue growth, while the reinsurance division recorded 30% organic growth. Its managing general agent arm, DUAL, delivered 6% organic growth over the period. The group attributed around 30% of its organic growth to new teams in areas including treaty reinsurance, Howden Re Programs, sport and entertainment, aviation, restructuring and resolution, and construction. During the year, Howden also expanded its presence in several markets, among them Australia, Greece, the Middle East, Singapore, and Japan.
Mergers and acquisitions were a significant feature of Howden’s year. The group completed 65 strategic acquisitions, including 28 in Europe. These included VLC in the Netherlands, North Risk in Denmark – marking Howden’s entry into the Danish market – and French brokerage AGEO. As a result, the company’s global footprint extended to 55 countries.
Howden also undertook a series of financing transactions in 2024. These included a full refinancing and maturity extension in February, the issuance of a high-yield bond, and two increases in the capacity of its revolving credit facility. The group secured a new delayed draw term loan facility to support further investment and carried out several repricings.
