Tasmanian brokerage Bugg Goninon has begun trading under the new name of Capital Innovation Insurance Group.

MD Ian Goninon says the Launceston-based company has traditionally focused on the local market but is now considering “a fair few opportunities” in other areas of Australia, including Queensland and Victoria.

“It is a different direction and a different way of doing things,” he told insuranceNEWS.com.au. “It is about not being totally dependent on the Tasmanian market. It’s more of a national approach.

“My name is very recognisable in Tasmania but we wanted something new to give the fresh launch a real push.”

Mr Goninon says apart from moving into wholesaling “and a few other initiatives next year”, most aspects of the business will remain unchanged.

Capital Innovation Insurance Group will act as an authorised representative of Bugg Goninon.