NSW and Victoria risk businesses merge

Sydney-based MBS and Melbourne-based CRA were confident that the benefits of the merged expertise, increased scale and improved efficiencies would be the foundation for new business growth.

The combined business will have approximately $55 million in premiums under management, 18 authorised financial advisers and 40 administrative staff.

Initially the businesses will operate under their own brands while a new identity is developed and will operate from their individual offices but guided by a common board of directors.

MBS co-partners Kris Mason and Drew Burden, together with CRA founding partner Glenn Kerr said the new entity would be one of the industry’s largest risk insurance advisory businesses.

"In combining the two organisations that are leaders in personal/business risk protection, expert risk advice and ongoing support – the merger has brought two specialist businesses together with common values, cultures and a shared commitment to put clients first,” they said.

"Putting MBS and CRA together makes us far larger, gives us better scale and will deliver better benefits and reassurance to clients.”

Mr Burden said that the group would continue to offer the highest standards of advice and support as it became a national group.

“Looking to the future, we will continue to provide our clients and JV partners the highest standards of professional financial advice, service and support. However, the main benefit is that the merger will enhance our national presence and footprint”, he said.

Eliot Hastie

Eliot Hastie is a journalist at Momentum Media, writing primarily for its wealth and financial services platforms. 

Eliot joined the team in 2018 having previously written on Real Estate Business with Momentum Media as well.

Eliot graduated from the University of Westminster, UK with a Bachelor of Arts (Journalism).

You can email him on: [email protected]