Australia’s Honan Insurance coverage Group (Honan) is bolstering its New Zealand operations with the acquisition of Certus Insurance coverage Brokers (CIBNZ).
The monetary phrases of the transaction weren’t disclosed.
The acquired agency is a normal insurance coverage dealer engaged in offering personalised threat recommendation and insurance coverage to a wide range of shoppers.
It operates two workplaces in central and regional Auckland.
With a workforce of 15 threat advisors, brokers, and normal insurance coverage specialists, CIBNZ’s administrators and administration convey over 90 years of mixed expertise generally insurance coverage and the native market, Honan said.
CIBNZ’s acquisition kinds a part of Honan’s efforts to develop and diversify inside the New Zealand market.
As per the phrases of the settlement, CIBNZ will be a part of Honan and retain the Certus Insurance coverage Brokers model title.
Honan CEO Andrew Fluitsma mentioned: “New Zealand has been an vital marketplace for Honan’s shoppers since we established our first native workplace in Auckland in 2010. The acquisition of CIBNZ now provides us the regional experience backed by the Honan firepower to quickly develop our share of the Antipodean market.”
CIBNZ normal supervisor Mark Gustafson mentioned: “After constructing Certus Insurance coverage Brokers right into a profitable impartial brokerage specialising in SME and home insurance coverage, now could be the precise time to change into half of a bigger and progressive Group.
“We’re excited to change into a part of a dynamic and various brokerage with a powerful regional footprint. In becoming a member of with Honan it can permit us to faucet right into a broad vary of experience that may considerably strengthen our buyer proposition and enterprise operations.”
Final month, Honan acquired Ardrossan Insurance coverage Brokers, which is targeted on nationwide and worldwide firms and small and medium enterprises (SMEs).