Melbourne, 30 September 2022

Honan Insurance Group (Honan), one of Australia’s fastest-growing international brokers, has acquired the Trumpet Financial business, a specialist in life insurance and risk management advice for individuals.

The acquisition sees the Trumpet Financial business join Honan’s expanding network of brands, including Risksmart, BRIC, and Modern Risk Solutions. Trumpet Financial’s existing owners will remain in the business.

Trumpet Financial complements Honan’s position as a leading general corporate insurance broker, enabling the business to offer strategic life insurance services to senior executives, business owners, and high-net-worth individuals. The acquisition will also see Honan add further expertise to its life insurance offering, while bringing more scale and unlocking additional investment and underwriter power.

The move is the latest in a series of mergers and acquisitions for Honan, a defining strategic pillar for the business since partnering with private equity firm TA Associates in 2020. The targeted acquisitions, diversified service offerings, and business expansion have driven a compounded annual growth rate of 30 percent over the last three years.

Honan Chief Executive Officer, Andrew Fluitsma, said:

“Trumpet Financial presents a strong business case, achieving double-digit annual organic growth since its inception in 2008, primarily driven by referrals. Trumpet’s commitment to simplifying life insurance and personal risk management services, as well as its outstanding commitment to claims advocacy for clients aligns with our goal to challenge the status quo and do insurance differently."

“The acquisition will drive further investment in technology, which will improve efficiency and help us to focus on the most high-value work. Our clients will feel the benefit, with more manpower to offer more tailored service and secure the most competitive deals.”

Trumpet Financial Founder and Principal Adviser, Todd Rowson, said:

“We are a business built on referrals and this acquisition gives us the added muscle to build on our strengths and access new opportunities. Becoming part of Honan Insurance Group will give us the capital and resources to go to the next level of service and growth for our clients and specialist team.”

The acquisition will see the business join the Honan family, operating as Trumpet Financial - a Honan Company.

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About Honan Insurance Group

Founded in 1964, and headquartered in Melbourne, Honan is disrupting the traditional broker model. With more than 300 employees from offices in Australia, New Zealand, Singapore, and Malaysia, and through exclusive access to independent insurance and risk advisors via the Worldwide Broker Network, Honan partners with diverse organisations from global and ASX 100 corporations, to property managers, NFPs, start-ups, and sole traders. Thanks to its innovative, customer-led approach and deep sector experience, Honan adds value to clients beyond just insurance, through comprehensive risk profile assessments and clear, easy-to-understand advice.

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About Trumpet Financial

Established in 2008 in Melbourne, Victoria, Trumpet Financial specialises in life insurance and risk management advice, as well as personal wealth advice for Business owners and professionals. Trumpet Financial strives to simplify the complexity of the financial world to work for clients, maximising results with minimal interference. 

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Media Contacts

Keep Left (on behalf of Honan)

Mitchell Blincoe

0427 801 843

mblincoe@keepleft.com.au

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