Sydney-based Emjay Insurance Brokers says Founder and MD Mario Cuenca’s family have acquired 100% ownership in the business, and Director Jeff Murdoch will oversee a transition after 17 years at the brokerage. 

Montana Cuenca, who spent four years at Liberty International Underwriters, and Christian Cuenca, formerly Berkshire Hathaway Specialty Insurance Underwriter, will each step up from account manager positions to take on more senior management roles at the now entirely family-owned business. 

Emjay thanked Mr Murdoch for his dedication, commitment and invaluable contribution. 

“Jeff’s deep understanding of the insurance industry and his business acumen and foresight have ensured that the company is well-positioned for the future. We would all like to express our gratitude to his long service to Emjay,” Mario Cuenca said. 

The new arrangement would drive growth and continue the legacy of the business “for many generations to come,” he said. 

“As the founder of this great 37-year-old company, I have long planned that my family would one day enter and continue building the business. That’s why we have secured this opportunity to enable our next generation to become key shareholders.”