Resilium Partners’ Cornerstone Risk has bought Brisbane-based MRC Insurance and will build on the deal with the launch of a corporate and specialty division.

Cornerstone, led by Scott Mitchell and Damien Mulvenna, has completed a series of deals in recent months, expanding into NSW and increasing its Queensland presence.

The brokerage has become one of the largest Resilium partners, with more than 50 staff, offices in Brisbane and Sydney, $110 million gross written premium and 20,000 policies under management. 

Business development MD Mr Mitchell says the acquisitions are about more than just growth, and bring together talented people and strong cultures. 

“We’re committed to never standing still and to building a business that thrives on innovation and collaboration,” he said. 

MRC Insurance was established to serve the resources and energy, and construction industries. It has since broadened its appetite and works with clients nationally. 

Under the buyout, owner Danny Gluszkiewicz will collaborate with senior management in a consultancy role and MD James Musial will continue in a leadership position and head the new division. 

Mr Musial says the businesses share a common vision. 

“I look forward to leading the corporate and specialty division as we continue to deliver outstanding results for our clients,” he said. 

Other Cornerstone acquisitions in recent months include Victor Chau Insurance, Protect U Insurance Advisers, John Leask, Dolan Insurance Services and Acumen Insurance in NSW, and Aspire Insurance Solutions in Queensland. 

Resilium is part of Envest Group, which has GWP of $3.6 billion in Australia and is owned by UK-based Ardonagh.