Honan Insurance Group
- Company typePrivate
- Founded1969
- HeadquartersMelbourne, Australia
- Headcount251–500
- GTM typeB2B
- OfferingServices
Honan Insurance Group firmographics
Firmographics- Name
- Honan Insurance Group
- Legal name
- Honan Insurance Group Pty Ltd
- Website
- https://honan.com.au
- Company type
- Private
- Founded year
- 1969
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Ownership category
- akta.pro rank
Honan Insurance Group industry classification
Industry- Product category
- Strata Insurance Brokerage
- NAICS
- Insurance Agencies and Brokerages (52421)
- SIC
- Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Habitational / Residential Property Managers BOP (FSAJAFAN)
- akta.pro secondary industry
- Real Estate / Lessors Risk BOP (FSAJAFAI)
Keywords
Where Honan Insurance Group is headquartered
LocationHeadquarters
- HQ city
- Melbourne
- HQ country
- Australia
- HQ region
- Oceania
Offices2 records
Markets served
Honan Insurance Group business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Insurance Commission: Commission calculated as percentage of insurance premium paid by clients. Commission rates vary between 0% and 30% of the insurance policy amount (excluding government fees, charges, levies, stamp duty, fire services levy, and GST). Commission is paid by insurers to Honan for placing insurance policies.
- Broker Fees: Non-refundable broker fees charged to clients for services provided. May also include separate administration fees to cover administration and processing costs in relation to broking services. Underwriting and administration fees may apply when acting under binder arrangements.
- Premium Funding Commission: Commission received from premium funders when arranging premium funding for clients. Commission rates typically range from 0% to 4% of the funded premium (including government fees and charges).
- Underwriting Agency Revenue: Revenue from Victor Insurance Pty Ltd and Victor Insurance Australia Pty Ltd, associated underwriting agencies that receive commission as percentage of insurance premium and share of underwriting profits from business introduced to insurers.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | Commission-based insurance placement |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels2 records
Honan Insurance Group product offering
Product offeringCore offering
Honan Insurance Group is an Australian insurance broker that arranges general insurance coverage for strata-titled and shared-ownership properties, acting as agent for insureds to place business with insurers and specialist underwriting agencies. Its core offering comprises six strata-focused insurance products (residential strata, commercial and industrial strata, build-to-rent, company titles, community association schemes, and residential landlord insurance) supported by risk consulting, program placement, and in-house claims advocacy services for strata managers, owners corporations, developers, and landlords across Australia.
Product overview
Honan Insurance Group is an insurance broker operating as part of the Marsh Group of companies, specializing in strata insurance solutions across Australia. The product portfolio comprises six core insurance products: Residential Strata Insurance and Commercial and Industrial Strata Insurance (covering body corporate/common property under strata title arrangements), Build to Rent Insurance (for developer-retained residential properties), Company Titles Insurance and Community Association Schemes Insurance (for niche ownership structures), and Residential Landlord Insurance (for landlords renting strata units). These products are distributed through insurance brokers and are backed by access to specialist underwriting agencies and global risk expertise through the Marsh network.
Differentiator
Problem solved
Functional benefit
Products and services
- Residential Strata Insurance General insurance covering common or shared property managed by a strata title or body corporate entity in residential settings, including traditional strata plans and complex mixed-use strata or larger building management committees. Targeted at strata managers and owners corporations.
- Commercial and Industrial Strata Insurance Insurance placement for commercial and industrial strata titled properties, covering common or shared property managed by body corporate entities, with access to risk improvements. Targeted at commercial and industrial property owners and operators under strata title arrangements.
- Build to Rent Insurance Insurance coverage for residential property developments where all lots are retained by an owner, developer, managed investment trust or another entity, with units leased directly to tenants and not sold individually. Targeted at build-to-rent developers and managed investment trusts.
- Company Titles Insurance Insurance coverage for company title property ownership — a historical form of shared property ownership predating strata titles — using niche underwriting agencies. Targeted at owners and managers of company title properties.
- Community Association Schemes Insurance Insurance coverage for community association schemes comprising common property, landscapes and facilities on a single land allocation, using niche underwriting agencies. Targeted at community association scheme operators and managers.
- Residential Landlord Insurance Insurance protecting landlords who rent out strata units or apartments against rental-specific losses such as tenant damage, loss of rental income, and liability exposures that standard home insurance does not cover. Targeted at residential landlords and property investors.
Quantifiable outcome
- Access to niche underwriting agencies that specialize in community association schemes and company title properties
- +1 more outcomes
Companies that use Honan Insurance Group
Customer profileSegments6 records
Ideal customer profiles6 records
Honan Insurance Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Honan Insurance Group partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and minor.
- Marsh Pty LtdcoreMarsh Pty Ltd is the parent company of Honan Insurance Group. Marsh is a world leader in delivering risk and insurance services. Honan operates as a subsidiary under the Marsh corporate umbrella. Honan's ultimate parent is Marsh McLennan Companies, Inc. listed on New York, Chicago and London stock exchanges.
- Victor Insurance Pty LtdcoreVictor Insurance Pty Ltd (ABN 11 146 607 838) is an underwriting agency acting on behalf of insurance companies. It is an associated entity of Honan Insurance Group. Victor has authority to review, quote and bind coverage and service policies on behalf of certain insurance companies, and may manage and settle claims on their behalf. It is an authorised representative of Marsh Pty Ltd.
- Victor Insurance Australia Pty LtdcoreVictor Insurance Australia Pty Ltd (ABN 83 161 243 198) is an underwriting agency and associated entity of Honan Insurance Group. It has authority to review, quote and bind coverage and service policies on behalf of certain insurance companies and may manage and settle claims. It is an authorised representative of MMA.
- Marsh Valuation Services (MVS)minorMVS is a division of an associated entity of Honan providing valuations of property, plant, equipment and infrastructure assets for financial reporting, accounting and insurance purposes. Where clients use MVS services, they are charged a separate fee.
- Premium FundersminorHonan arranges premium funding through selected premium funders for clients. Commission from premium funders is typically calculated as percentage of insurance premium (including government fees or charges) and ranges from 0-4%.
Scale indicators3 records
Recent moves5 records
Expansion highlights5 records
Honan Insurance Group competitors and assessment
Company assessmentBroad incumbents
- AUB Group: ASX-listed Australian insurance broker network (formerly Austbrokers) providing aggregation, underwriting, and risk services. Comparable as a larger-scale Australian broker network whose member firms compete with Honan in the strata and commercial insurance segments.
- Steadfast Group: ASX-listed Australian insurance broker network and underwriting agency operator with the largest network of general insurance brokerages in Australia. Competes indirectly with Honan as an aggregator that supports many brokers placing strata and commercial insurance.
- Aon plc (Australia): Global insurance and reinsurance brokerage with a substantial Australian operation. Competes with Honan in commercial insurance placement but operates at much larger scale and broader line-of-business focus rather than strata specialty.
- Arthur J. Gallagher & Co. (Australia): Global insurance brokerage and risk management firm with significant Australian operations following its 2022 acquisition of Willis Towers Watson's Australian operations. Provides overlapping insurance brokerage capabilities with broader portfolio than Honan's strata specialty.
Direct peers
- PSC Insurance Group: ASX-listed Australian insurance brokerage group that has grown through acquisitions across specialty and general insurance lines. Directly comparable to Honan as a domestically headquartered Australian broker pursuing similar acquisition-led growth in commercial and specialty segments.
- Coverforce Insurance Brokers: Australian insurance brokerage group providing commercial and personal lines insurance placement. Comparable to Honan as a domestically focused Australian broker competing for similar SME and mid-market accounts across multiple lines of business.
- EBM Insurance Brokers: Australian insurance broker best known for its RentCover landlord insurance product, serving strata managers, property investors, and landlords. Highly comparable to Honan given its specialist focus on strata and rental property insurance placement in the Australian market.
Others
- Allianz Australia: Major Australian general insurer underwriting strata, commercial, and landlord insurance. Functions as an insurance carrier that pays commissions to Honan on placed business rather than as a direct broker peer, but its underwriting strategy critically affects Honan's placement options.
- Insurance Australia Group (IAG): ASX-listed Australian general insurer that underwrites strata and commercial property insurance. As Honan's key carrier counterparty rather than a direct broker competitor, IAG is relevant as the underlying risk carrier whose underwriting appetite and pricing directly drives Honan's commission income.
Emerging players
- CHU Underwriting Agencies: Specialist Australian underwriting agency focused on strata and community title insurance. Comparable to Honan as a strata insurance specialist, but operates on the underwriting side rather than brokerage, and could be both a competitor and a capacity partner.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights7 records
Customer concentration
Honan Insurance Group compliance and trust
Trust signalCompliance3 records
Honan Insurance Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
Honan Insurance Group leadership team
Management profileNumber of profiles
Profiles3 records
Honan Insurance Group funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Honan Insurance Group M&A and investment
M&A and investmentM&A3 records
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Honan Insurance Group
What does Honan Insurance Group do?
Honan Insurance Group is an Australian insurance broker that arranges general insurance coverage for strata-titled and shared-ownership properties, acting as agent for insureds to place business with insurers and specialist underwriting agencies. Its core offering comprises six strata-focused insurance products (residential strata, commercial and industrial strata, build-to-rent, company titles, community association schemes, and residential landlord insurance) supported by risk consulting, program placement, and in-house claims advocacy services for strata managers, owners corporations, developers, and landlords across Australia.
Is Honan Insurance Group a public or private company?
Honan Insurance Group is a private company. It is classified as corporate owned and is currently operating.
When was Honan Insurance Group founded?
Honan Insurance Group was founded in 1969. It employs 251 to 500 people.
Where is Honan Insurance Group based?
Honan Insurance Group is headquartered in Melbourne, Australia, in the Oceania region.
How does Honan Insurance Group make money?
Four revenue lines are on record. Insurance Commission is the primary driver. The others are broker Fees, premium Funding Commission and underwriting Agency Revenue.
Who are Honan Insurance Group's main competitors?
Broad incumbents on record are AUB Group, Steadfast Group, Aon plc (Australia) and Arthur J. Gallagher & Co. (Australia). Direct peers are PSC Insurance Group, Coverforce Insurance Brokers and EBM Insurance Brokers. Others are Allianz Australia and Insurance Australia Group (IAG). CHU Underwriting Agencies is listed as an emerging player.
Does Honan Insurance Group have an API?
No public API is recorded for Honan Insurance Group.
What industry is Honan Insurance Group in?
Honan Insurance Group's product category is Strata Insurance Brokerage. Its primary akta.pro industry code is FSAJAFAN, Habitational / Residential Property Managers BOP, with a secondary code of FSAJAFAI, Real Estate / Lessors Risk BOP. Its NAICS code is 52421 and its SIC code is 6411.