Leading Melbourne broker John Whitbread died on Saturday night after a brief illness.

Mr Whitbread founded Whitbread Insurance Brokers in 1978, building the company into a significant business with a branch in NSW and a string of long-established clients.

Today, the business employs more than 50 staff with an annual turnover in excess of $60 million. His children Angela, John-Paul and Claire work in the company in senior roles.