Broking firm InterRISK will rebrand as Austbrokers Corporate from July while its SME portfolio and other scheme businesses will be transferred into a joint venture run by MGA, under changes announced by AUB Group.

Austbrokers Corporate will be led by John Mutton, who took over the leadership of AUB-owned InterRISK last November when former MD Phil Kearns left the business. AUB flagged at that time that it was planning to build its focus on the larger business and middle market sectors under the new banner.

Mr Mutton joined InterRISK 15 years ago and was appointed head of broking in late 2017. He won the National Insurance Brokers Association Broker of the Year award in 2014.

The joint venture will operate predominantly from the MGA Sydney office, leveraging MGA’s processes and platforms, and will be led by Andrew Faber who will join from Gallagher in July.

Mr Faber, who has also previously held senior roles at Vero and at MGA, will work closely in the venture with Bernard Tuaimau who has more than 10 years’ experience at MGA.

AUB says the venture will have initial gross written premium of $11 million, with the InterRISK portfolio providing a base for further expansion

“The newly formed Austbrokers Corporate will deliver improved skills and focus for our corporate clients while the establishment of the joint venture between Austbrokers and MGA will deliver renewed energy and growth opportunities under the leadership of Andrew and Bernard,” AUB Group CEO Mike Emmett said.

The InterRISK business currently includes corporates, SMEs, associations and industry groups. The firm’s website says it handles more than 7000 business policies each year.

MGA MD Paul George says InterRISK’s strength in trades provides a significant addition.

“We already do quite of lot of business in the trades area and we are pleased to be able to add to that specialty,” he told insuranceNEWS.com.au.

MGA is partly owned by AUB Group and is a member of the Austbrokers network.