MB Insurance Group
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.
- Company typePrivate
- Founded1989
- HeadquartersSydney, Australia
- Headcount1–10
- GTM typeB2B and B2C
- OfferingServices
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.
MB Insurance Group firmographics
Firmographics- 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
MB Insurance Group industry classification
Industry- 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
Where MB Insurance Group is headquartered
LocationHeadquarters
- HQ city
- Sydney
- HQ country
- Australia
- HQ region
- Oceania
Offices5 records
Markets served
MB Insurance Group business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- 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
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Comprehensive Prestige Motor Insurance - Unlimited Kilometres |
| Subscription | Annual | Comprehensive - Limited Kilometres (5,001-8,000 km/year) |
| Subscription | Annual | Comprehensive - Low Kilometres (0-5,000 km/year) |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels5 records
MB Insurance Group product offering
Product offeringCore 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
Companies that use MB Insurance Group
Customer profileNamed customers6 records
Segments8 records
Ideal customer profiles2 records
MB Insurance Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
MB Insurance Group partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- Lloyd's of LondoncoreMB 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 InsurancecoreMB 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
MB Insurance Group competitors and assessment
Company assessmentDirect 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
MB Insurance Group social profiles
Digital presenceMB Insurance Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
MB Insurance Group leadership team
Management profileNumber of profiles
Profiles8 records
MB Insurance Group funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
MB Insurance Group M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about MB Insurance Group
What does MB Insurance Group do?
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.
Is MB Insurance Group a public or private company?
MB Insurance Group is a private company. It is classified as family owned and is currently operating.
When was MB Insurance Group founded?
MB Insurance Group was founded in 1989. It employs 1 to 10 people.
Where is MB Insurance Group based?
MB Insurance Group is headquartered in Sydney, Australia, in the Oceania region.
How does MB Insurance Group make money?
One revenue line is on record: insurance Premiums.
Who are MB Insurance Group's main competitors?
Direct peers on record are Sterling Insurance and Shannons Insurance. Broad incumbents are NRMA Insurance, Allianz Australia, AAMI, Suncorp Group and QBE Insurance. Regional players are Heacock Classic Insurance, Grundy Insurance and Hagerty.
Does MB Insurance Group have an API?
No public API is recorded for MB Insurance Group.
What industry is MB Insurance Group in?
MB Insurance Group's product category is Specialty Motor Vehicle Insurance. Its primary akta.pro industry code is FSAJAMAM, Warranty & Service Contract / Mechanical Breakdown Insurance. Its NAICS code is 524126 and its SIC code is 6331.