Cornerstone Risk Group, a member of Resilium Partners, has extended its reach in Queensland with the acquisition of Brisbane-based Professional Insurance Agencies (PIA).

PIA, which started in 1970, services clients throughout the state and has a strong focus on providing business insurance for clients across an array of industries.

“Cornerstone Risk Group already has a large presence in Queensland, however the acquisition of PIA allows us to even further extend our geographic reach in the region,” Director Scott Mitchell said.

“There will be no significant changes to the PIA business as a result of this acquisition, other than that the PIA team will join our larger group and gain from our existing connections and relationships we have built in Queensland.”

The announcement follows several other acquisitions by Cornerstone over the past 18 months, including the purchase of Central Highlands Insurance Services, Surefinity Insurance Brokers, Total Insurance Agencies and PMA Trilogy Insurance Solutions.

“We’ve been able to offer PIA a flexible M&A approach, thanks to the continued support and backing of Resilium Partners,” Mr Mitchell said. “It means that the PIA team can move effortlessly into our business with no impact on the end customer.”

PIA Directors Barrie Crichton and Spencer Felix have welcomed the next chapter in the business’ development.

“Being a part of Cornerstone Risk Group’s larger network will provide support for our staff, who will continue to provide professional advice to our clients, some of whom have been valued partners for over 25 years,” they said.   

Resilium Partners in 2021 acquired a controlling interest in Cornerstone, an authorised representative of Resilium Insurance Broking. Cornerstone continues to look for other like-minded businesses to join the group.