MB Insurance Group

What MB Insurance Group does

MB Insurance Group Pty Limited is a privately-held Australian underwriting agency founded in 1989 and headquartered in Sydney, specialising exclusively in prestige, luxury, sports, high performance, classic, vintage, and imported motor vehicle insurance. The company operates as an underwriting agency that distributes and services policies on behalf of capacity providers Lloyd's of London and QBE Insurance, with policy risk borne by those underwriters while MB retains distribution, underwriting, and claims management responsibilities. Its primary product is a comprehensive prestige motor insurance policy featuring agreed value coverage, choice of repairer, 4-year new vehicle replacement, excess-free glass replacement, and specialty benefits such as automatic salvage retention for vehicles over 25 years old.

The company's technology stack consists of a policy management and claims processing backbone, an Online Broker Portal (motor.mbinsurance.com.au) for broker-driven quoting, and an Online Claims Form for digital claim lodgement. It operates with an in-house claims team (9 staff in Sydney) and a national office footprint across NSW/ACT, VIC/TAS, SA, WA/NT, and QLD. Distribution is primarily through insurance brokers Australia-wide, supplemented by direct-to-consumer online quote requests and phone channels, with marketing also conducted via industry expos, content marketing, and customer/broker referrals.

MB generates revenue through commissions and fees on insurance premiums placed via its underwriting agency arrangement, with annual subscription-style billing. Customer concentration is low, with a fragmented base of individual prestige vehicle owners served through a long tail of brokers, and underwriting counterparty concentration exists with Lloyd's and QBE. The McNamara family retains key leadership, with Daniel McNamara as Managing Director, and the company has remained privately held since its 2013 minority investment from BP Marsh & Partners.

Name

MB Insurance Group

Legal name

MB Insurance Group Pty Limited

Website

https://mbinsurance.com.au

Company type

Private

Founded year

1989

Operating status

Operating

Headcount range

1–10 employees

Short description

MB Insurance Group is a privately-held Australian underwriting agency, founded in 1989 and backed by Lloyd's of London and QBE, that distributes and services prestige, luxury, sports, classic, vintage, and imported motor vehicle insurance primarily through insurance brokers across Australia.

Ownership category

akta.pro rank

Product category

Specialty Motor Vehicle Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Direct Insurance (except Life, Health, and Medical) Carriers (52412), Other Insurance Related Activities (52429)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Carriers, Nec (6399)

akta.pro primary industry

Warranty & Service Contract / Mechanical Breakdown Insurance (FSAJAMAM)

Keywords

• Prestige motor insurance
• Classic vehicle insurance
• Specialty auto underwriting
• Imported car insurance
• Luxury vehicle insurance

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Insurance Premiums: Collection of insurance premiums from policyholders for prestige motor vehicle coverage. Policies are underwritten by Lloyd's and QBE, with MB Insurance acting as the underwriting agency managing the product distribution, underwriting, and claims handling.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

MB Insurance Group is an Australian specialty motor vehicle insurer and underwriting agency that provides tailored insurance solutions for prestige, luxury, sports, high performance, classic, vintage, and imported vehicles. The company underwrites policies on behalf of Lloyd's of London and QBE, distributing coverage primarily through licensed insurance brokers and also offering direct quotes to owners of qualifying vehicles.

Product overview

MB Insurance Group operates as a single-product insurance company offering Prestige Motor Vehicle Insurance as its core offering, specializing in coverage for prestige, luxury, sports, high performance, classic, vintage, and imported vehicles. The company has been providing specialized motor insurance since 1989. The product portfolio centers on the Prestige Motor Insurance policy supplemented by specialized coverage sub-products for specific vehicle categories including Porsche-specific insurance (covering models from the 356 through the Taycan), imported vehicles (US, UK, Japanese, and grey imports), vintage/classic vehicles, sports/high performance vehicles, luxury vehicles, and 4WD/SUV vehicles. Additional features include reduced usage and low kilometre discounts, 4-year new vehicle replacement, agreed value coverage, and automatic salvage retention for vehicles over 25 years old. Distribution is handled through insurance brokers via an Online Broker Portal and direct quote request forms. The company is backed by Lloyd's of London underwriters.

Differentiator

Problem solved

Functional benefit

Products and services

• Prestige Motor Vehicle Insurance Comprehensive annual insurance policy tailored for prestige, luxury, and high-end passenger vehicles, offering agreed value, choice of repairer, and in-house claims handling underwritten by Lloyd's of London and QBE.
• Classic and Vintage Vehicle Insurance Specialist annual insurance cover for classic, vintage, and collector vehicles, including agreed value, salvage rights, limited use discounts, and storage-friendly options for occasional drivers.
• Imported Vehicle Insurance Annual insurance cover designed for imported motor vehicles including grey imports, Japanese performance imports, and American muscle, addressing unique valuation and parts-availability concerns.
• Sports and High Performance Vehicle Insurance Annual insurance policy for sports cars and high performance vehicles, including track-day-capable cover, agreed value, and specialised repairer network access.
• 4WD and SUV Insurance Annual motor insurance covering 4WD and SUV vehicles used on- and off-road, with accessory and modification cover included as standard.
• Online Broker Portal Secure web-based platform enabling licensed insurance brokers to quote, bind, and manage MB Insurance Group policies in real time for their prestige and specialty vehicle clients.

Quantifiable outcome

• Average customer satisfaction score of 9.4 out of 10 from 191 post-claim survey responses over 12 months
• +4 more outcomes

Named customers6 records

Segments8 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered core.

• Lloyd's of LondoncoreStrategic or Co-development PartnerMB Insurance has partnered with certain underwriters at Lloyd's, the world's leading insurance and reinsurance marketplace. Lloyd's provides the financial backing and underwriting capacity for MB's Prestige Motor Insurance products. This partnership enables MB to offer coverage backed by one of the world's largest and most secure insurance markets, providing policyholders with confidence in claim payment ability.
• QBE InsurancecoreStrategic or Co-development PartnerMB Insurance also has policies underwritten by QBE Insurance, providing additional underwriting capacity alongside Lloyd's. QBE claim forms are available on the MB website for policies underwritten by QBE.

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Sterling Insurance: Sterling Insurance is an Australian underwriting agency specializing in motor vehicle and motorcycle insurance with niche product offerings, sharing MB Insurance's underwriting-agency model and specialization in non-mainstream vehicle segments.
• Shannons Insurance: Shannons is Australia's leading specialist insurance provider for classic, vintage, modified, and enthusiast vehicles, directly overlapping MB Insurance's classic/vintage and high-performance vehicle niche with a similar broker-and-direct distribution model.

Broad incumbents

• NRMA Insurance: NRMA is one of Australia's largest general insurers offering comprehensive motor vehicle coverage, representing the mainstream competitive backdrop that MB Insurance's specialist positioning is built to differentiate from.
• Allianz Australia: Allianz Australia is a large multi-line insurer offering comprehensive motor vehicle coverage and specialty products including through Club Marine, broadly overlapping with MB Insurance's prestige/classic marine-adjacent niche.
• AAMI: AAMI is a major Australian direct and broker-distributed motor and home insurer and part of the Suncorp Group, competing for mainstream prestige and luxury vehicle policies that MB Insurance specializes in.
• Suncorp Group: Suncorp is one of Australia's largest general insurance groups (parent of AAMI, GIO, Bingle, APIA), offering broad motor vehicle coverage that competes for the mainstream segment of MB Insurance's prestige vehicle customer base.
• QBE Insurance: QBE is a major Australian and global general insurer that both underwrites MB Insurance's policies and offers its own motor insurance products, making it both a capacity provider and a broad-market competitor.

Regional players

• Heacock Classic Insurance: Heacock Classic is a US specialist insurer focused on collector, classic, and high-value vehicles with agreed value and restoration coverage, mirroring MB Insurance's niche in prestige and classic vehicles outside Australia.
• Grundy Insurance: Grundy is a US-based specialist collector and classic car insurer with agreed value and enthusiast-focused features, comparable to MB Insurance's classic/vintage and agreed-value offering but operating in a different geography.
• Hagerty: Hagerty is the US market leader in classic and collector car insurance with agreed value, specialty coverage, and a strong enthusiast brand, serving as the closest international analogue to MB Insurance's prestige/classic vehicle proposition.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/mb-prestige-ltd

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MB Insurance Group