Insurance News
CEMAC goes to Australian Consolidated
by John Heath
31 January 2008
WAYNE MILLER, the big mover and shaker from out of the West has made another coup in the eastern states by purchasing Murray Rogash’s CEMAC Pty Ltd.
Mr Miller’s Australian Consolidated Insurance completes acquisition of CEMAC the successful Brisbane based plant and machinery underwriting agency on January 31.
From then on CEMAC Pty Ltd becomes a wholly owned subsidiary of the AustralianConsolidated Insurance Limited group (ACIL).
Mr Miller said: “The acquisition provides further momentum to our existing underwriting agency business segment in achievement of the business goals of the group.
“CEMAC’s portfolio will enhance existing business already being written by our subsidiary Aurora Underwriting Agency Pty Ltd.”
CEMAC’s existing security, Lumley General Insurance Ltd will continue the existing contractual arrangements.
Mr Miller said he was: “delighted that Murray Rogash will maintain an involvement withthe group in a consultancy capacity which ensures business as usual for the team inBrisbane and for our brokers.”
The addition of Aurora’s range of products would be provided to the brokers that support CEMAC, adding a greater value to the relationship, he added.
“Murray and I will be attending the Macau AIMS conference and look forward to discussing future plans for expansion and new products at our exhibition booth withBrokers,” Mr Miller said.
CEMAC would continue to support future industry conferences.
William Legge, CEO of Aurora Underwriting Agency, also will head CEMAC and would complement Mr Rogash’s expertise to continue to ensure service levels; product quality and pricing remain highly competitive, Mr Miller added.
Mr Rogash told INAcom that because of the various offers his company had been receiving for many months “this was an ideal opportunity for me to sell out. The identity will remain and still operate as CEMAC which is very encouraging.”
He said: “We have recognised for a while that we need a technological uptake and ACIL has the extra resources to provide this.”
He was also very pleased that CEMAC staff and office would be retained. This includes his son Trent who has been part of the CEMAC business for the past few years.
The participants declined to name the price of the acquisition.