Envest Group has announced it has purchased a majority stake in Queensland-based motor underwriter Insuret.  

Insuret, which is an authorised representative of Hollard, primarily underwrites as a fleet specialist, offering services for car rentals, car share, rideshare, peer2peer and subscription fleet programs. The firm was founded in 2007 by Jason McDonnell, in partnership with Hollard.  

Envest CCO Richard Heilig says Insuret has “tremendous growth potential and good cultural alignment with the Envest Group” as it looks to expand into the fleet market.   

“Insuret is a niche underwriting agency with a strong book of business, established systems and processes that will complement our existing portfolio of owner-operated agencies and brokers,” Mr Heilig said.   

“Like many of our other agencies, the strength of Insuret is its strong relationships with its insurer and clients. Jason McDonnell has created a business with a significant competitive and first mover advantage.”  

Mr McDonnell, who will remain in his role as Insuret co-owner and MD, says the deal will expand the firm’s capability to reach a broader market.   

“Due to changing economic, social, environmental and technological conditions, our market is expanding rapidly, and many of our customers are seeking international expansion.”   

“We have a strong 16-year partnership with Hollard, which is set to continue, and our new relationship with Envest will help us further support our customers with international growth due to the wider Envest connection with Ardonagh.”