Coverforce MAL has changed its name to Clearlake Insurance Brokers and departed the Steadfast-owned Coverforce Partners network.

Clearlake, which says it was the largest member of Coverforce Partners, is now a standalone business with its own financial services licence.

Owned by co-CEOs John Angelis and Yianni Gourlas, Clearlake has a team of 20, managing more than $120 million of premium Australia-wide.

A spokeswoman told insuranceNEWS.com.au the business “outgrew” the Coverforce model.

“The exit from Coverforce Partners was amicable and we still have a good relationship with Coverforce and the wider Steadfast Group,” she said.

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