Older brokers present the ideal opportunity for Austbrokers as it continues to pursue acquisitions.

The group told the Macquarie Australia Conference last week that the industry’s age demographics indicate that “continued opportunities for direct acquisitions or portfolio/bolt-on businesses should be available”.

MD Mark Searles told insuranceNEWS.com.au many broking principals are over 50 and looking at how they can monetise their investments.

“Our owner-driver model is ideal,” he said. “We can help find a successor and work shoulder-to-shoulder to grow the business for when they sell the other 50%.

“There is a large cohort of 50-somethings out there, and that is our sweet spot.

“As the market consolidates that brings people into the scope of our model.”

Austbrokers, formed in 1985, has gross written premium of $1.9 billion, the conference was told.

“We’ve had eight years of double-digit profit growth and our ambition is to carry that on,” Mr Searles said.

“We now have shareholders and stakeholders with certain expectations. It can get more difficult as you get bigger, and that’s why we have to be constantly ahead of the game.”

He says Austbrokers’ key message is the need to adapt to future challenges and maximise growth opportunities.