Comsure has been an aggressive competitor in the Queensland insurance market since 1974. The company was formed by local Queensland businessmen who had earlier successfully floated on the Australian Stock Exchange as an insurer. The Australian Community Insurance Company Ltd (ACI). ACI was a conservative insurance and rather than reject risks which did not meet their underwriting criteria, this business was directed to Comsure for placement with other insurers.
ACI was eventually sold to the large Dutch insurer, National Nederlanden which operated in the Australian market under the name of ANIC (which later made a successful takeover of Mercantile Mutual).
The ANIC/Comsure structure was no longer a 'fit' within ANIC so a management buy out by Executive Director, Terry Hamill was completed in 1982. Comsure prospered in the economic growth of the 90's which was particularly strong in Queensland.
The mid 1990s saw the emergence of cluster groups which form the majority of insurance brokers who are not part of a multi-national company. This influenced the "Hamill" Group to sell 49% to ING in 1995 thus retaining a controlling interest. This partnership proved successful with ING providing much expertise in training, IT and management skills. ING later formed the general insurance network - Austbrokers.
As part of the "Hamill" Group succession plan, in 2000, Stephen Hamill purchased a shareholding in Comsure and is now the Managing Director. Due to the continued growth of Comsure, Richard Rentoul became a director and shareholder in 2005 to further strengthen the management team.
Comsure was also voted by the Insurer of Queensland "Regional Broker of the Year" in the National Insurance Brokers Association in 1991 and 2000.In 2006 ING took the strategic decision that it no longer wanted to be involved in the Australian general insurance market and successfully floated the Austbrokers network on the Australian Stock Exchange in November of that year. - ASX code: AUB
AUB represents 135 partner businesses across more than 425 locations in Australasia.