Multi-award winning broker Danny Gumm has sold his specialist brokerage to Arthur J Gallagher, setting the stage for Parmia’s expansion across Australia and beyond.
The sale was announced this afternoon and Gumm, who was 2013’s NIBA Broker of the Year, says the extra resources of Gallagher will take Parmia to the next level.
Gumm will remain in his role at the firm, which specialises in creating tailored insurance products for professional associations.
“We’ve been told if it’s not broken, don’t try to fix it,” he says.
“We’re going to continue what we’ve been doing but on steroids. What we’re hoping is that we’ll be able to continue the same business plan but have an even greater impact on the market with the additional resources we’ll have available to us.”
The sale caps off a huge 12 months for Beenleigh, Queensland-based Gumm. As well as winning the NIBA Broker of the Year award at last year’s NIBA Convention, Parmia was named Small Broker of the Year at the Australian Insurance Industry Awards last month.
Gumm says discussions between Parmia and Gallagher began after winning the NIBA award.
“We talked about our philosophies and values and worked out that we have very similar goals when it comes to association business, which is a major part of what Gallagher does,” he says.
“Gallagher has made it very obvious that the purpose of this acquisition is not just about the dollar value but about the quality of our staff and the way we transact our business.”