Rothbury Group has introduced the acquisition of all shares in Austinsure, a New Zealand-owned insurance coverage brokerage,.
The shares might be acquired from Steadfast Group NZ Holdings, a transfer set to take impact on 15 March 2024.
Monetary phrases of the deal had been undisclosed.
Austinsure managing director Neil Austin will depart from his position to pursue different pursuits after a protracted tenure.
In a press assertion, Rothbury stated: “After a protracted and profitable profession, Austinsure Managing Director, Neil Austin, is leaving Austinsure to concentrate on exterior pursuits.”
Rothbury managing director Roger Abel stated the deal will provide “vital advantages” to Austinsure clients and workers.
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Abel added: “Rothbury’s funding permits Austinsure to additional improve the excessive degree of service offered to their shoppers by leveraging Rothbury’s providers, merchandise and know-how infrastructure. Equally, Rothbury shoppers will profit from the aviation {and professional} indemnity experience that Austinsure is famend for.
“Rising our enterprise and group throughout the nation has lengthy been a part of our progress technique and we’re excited to be partnering with the group from Austinsure.”
As a part of the acquisition, eight specialists from Austinsure will transfer to Rothbury.
Austinsure is engaged in offering unbiased, specialist recommendation in addition to service in particular enterprise areas.
Final 12 months, basic insurance coverage brokerage service supplier Steadfast Group forayed into the US with the acquisition of privately owned unbiased insurance coverage company community ISU Group (ISU) for $55m (A$83.13m).
ISU has almost 220 member companies throughout greater than 40 US states.
