The Medical Benevolent Association of Queensland was founded in 1967. For the past 40 years the Association has provided financial assistance to members of the medical profession in times of financial distress.

The Association was registered under Letters Patent on 19 October 1967. The Letters Patent were signed by the then Governor of Queensland, Sir Alan Mansfield. Dr Evan Thomson (later Sir Evan Thomson) was the inaugural President and Dr Harold Palethorpe was the Secretary. Letters Patents were issued as a means of creating a legal entity for organisations under the Religious Educational and Charitable Institutions Act 1861. The Act itself was repealed when the Associations Incorporation Act was passed in 1981.

Many distinguished members of the profession have served as office bearers of the Association. Dr Peter Landy, the emminent Queensland Neurologist served as Honorary Treasurer of the Association for many years. Professor Tess Cramond served as Chair of the Association till 2005.

In 2007 it was decided by the Committee of Trustees of the Association that the legal structure of the organisation needed to be updated. The Association was incorporated as a public company limited by guarantee and was registered with ASIC ( the Australian Securities and Investments Commission ) on the 25th July 2007. It was felt that the company structure would give the Association more credibility and transparency for its future operations.

At the 2007 Annual General Meeting, the decision to incorporate was ratified, the Constitution of the Company was adopted and the assets of the Association were transferred to the Company. At the inaugural meeting of the Board of Directors of the company, Dr Bob Brown was appointed Chairman, Dr Paul Gray was appointed Secretary and Dr Thomas McEniery was appointed Public Officer. The other inaugural company Directors who were appointed were : Dr Zelle Hodge, Dr Lisa Cavaye, Dr Julienne Agnew, Dr Robert Riethmuller, Mr Len Scanlan and Mr Ralph Devlin.