Honan brings first CFO from outside of the insurance industry

Honan Insurance Group has appointed a chief financial officer (CFO) to help drive the next phase of its growth strategy.

Jacob Gunzburg (pictured) will take up the newly created position of CFO. He has more than 22 years’ financial accounting experience, encompassing financial reporting, corporate accounting, M&A, and financial risk management. Gunzburg previously held senior finance positions at Downer and Spotless Group Holdings combined with over ten years’ experience at KPMG.

In his new role, Gunzburg will oversee over half a billion dollars in premiums and $100 million in revenue. He will also be responsible for the strategic financial management of  Honan’s Mergers and Acquisitions activity and integration, which has been a key pillar of the globally networked insurance broker’s business strategy since it entered into a partnership with private equity firm TA Associates in 2020.

The strategic financial management of the business previously fell within the remit of chief operating officer Laurence Basell. A compounded annual growth rate of over 25% over the last three years, however, has driven the need for a standalone CFO role, the company said.

Gunzburg said: “This is my first foray into the insurance industry and  Honan’s challenger mentality and desire to do things differently is what attracted me to the role.  Honan’s strong performance and global network are impressive and I’m looking forward to contributing to the next phase of growth.”

Honan’s chief executive officer Andrew Fluitsma, commented: “Jacob will bring strategic stewardship and statutory oversight to the accounting and finance function of our rapidly growing business.”

“We are now a business of more than 350 people and Jacob’s appointment reflects our lofty ambitions to close the gap on our bigger competitors and continue to challenge larger institutional brokers.”

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