DYNAMIQ IN THE NEWS: CHANGE IN OWNERSHIP AT DYNAMIQ

CGU has acquired Dynamiq Pty Ltd from its four directors, Anthony Moorhouse, Steven Dunn, Grant Chisnall and David Epper.

When Dynamiq was founded in 2005, by former Australian Special Forces Commander Anthony Moorhouse, the vision was to create a truly global emergency management and business resilience company with strong links to the insurance industry.

The business now has offices in Australia, Asia and the Americas and provides medical and security assistance to more than 300,000 travellers, 200,000 expatriates and 6,000 organisations each year.

Anthony Moorhouse said Dynamiq’s sustained growth and its long history with Accident and Health International (AHI) has proven that the combined strength of insurance, emergency management and business resilience is a winning formula and the deal with CGU was a testament to this.

“This acquisition provides Dynamiq with exciting and wide ranging opportunities for the future. The backing and support of a large industry-leading company will allow Dynamiq to increase its service offering and further expand its operations around the world,” he said.

Anthony Moorhouse will remain on the board of Dynamiq.

Ben Bessell, IAG Chief Executive Commercial Insurance, which owns the CGU business, said he was delighted to bring Dynamiq on board.

“Dynamiq is a great company, providing vital business support services, and we are excited to be able to offer these services to all CGU’s partners and customers,” he said.

“We see enormous opportunity to grow Dynamiq’s business and believe our partners and customers will value the additional capability we can now provide.”

The purchase is in line with CGU’s strategy to enhance its service capability in adjacent markets and embed it into their leading insurance products, with the aim to bring new service capability to their partners and customers both pre and post loss.

Dynamiq will join IAG Commercial’s Agencies business, under Executive General Manager Phuong Ly.

Mr Ly said the acquisition was highly complementary. “We understand this business well and have great respect for the Dynamiq management team,” he said. “We now have an enormous opportunity to grow Dynamiq substantially and I look forward to working with them to deliver on this potential.”

IAG Commercial Agencies includes Strata Unit Underwriters, CGU’s interests in Accident and Health International (AHI) and National Transport Insurance (NTI), and is the security behind other specialist underwriting agencies. Dynamiq has been an external services provider to AHI’s corporate travel insurance offering for many years, providing 24/7 global emergency customer support.

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