Cornerstone Risk Group has announced the acquisition of Umbrella Insurance Services as part of its ongoing growth strategy, according to a LinkedIn post from the firm.
The move is expected to strengthen Cornerstone Risk Group’s presence across New South Wales (NSW). The company said it has been working closely with the Umbrella Insurance Services team to ensure a smooth transition for existing clients.
In the announcement, Cornerstone Risk Group said the partnership would enhance its “ability to deliver trusted, local service supported by Cornerstone’s broader capabilities and deep industry expertise.”
The company added it looks forward to “welcoming the team and building great things together.”
No financial terms were disclosed.
Cornerstone Risk Group has pursued a number of other acquisitions across NSW as part of a strategic push to build scale and expand service offerings. Recent additions include Victor Chau Insurance, Protect‑U Insurance Advisers, John Leask, Dolan Insurance Services, Acumen Insurance in NSW, and Aspire Insurance Solutions in Queensland. The MRC Insurance acquisition also led to the launch of a new corporate & specialty division within the group.
Earlier acquisitions by the group included Wollongong‑based MKS Insurance Services, which broadened its regional reach within the state.
Competition has intensified across the sector. As of late 2025, there were 13 insurance companies operating in NSW, with the largest concentration based in Sydney. Top insurers include Youi, Allianz Australia Insurance, Budget Direct, AAMI Insurance, and HCF Australia.
Advertising expenditure by insurance brands grew 4.7% year‑on‑year in 2025.
