Keith Nowlan, founder of Brisbane’s Bestmark insurance Brokers, and his wife Marj retired on Thursday after 40 years in the insurance industry.

Mr Nowlan, who recently turned 70, established Bestmark as a financial planning business in 1983 before it transitioned to the current structure in 1990. It remains located at the original site at Redbank Plains on the western outskirts of Brisbane.

“He’s been the face of the business since it started,” Bestmark Principal Ian Garbutt told insuranceNEWS.com.au. “He has been an incredible mentor for me.”

Mr Garbutt, who has run Bestmark for the past two years, was formerly Queensland state manager at CGU.

Bestmark is part of a three-way merger set to be finalised by the end of this financial year in which new owner AUB Group will combine the business with Comsure and Citycover to form Austbrokers’ largest Queensland brokerage.

The combined business, which will operate as Austbrokers Comsure and has a gross written premium of around $65 million, will be led by Mr Garbutt.

The Nowlans have bought a caravan and now plan to embrace the “grey nomad” lifestyle, Mr Garbutt says. “The business they leave behind is a testament to their hard work and dedication.”

The Nowlans’ daughters Wendy and Jenny remain at the business.