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 quite a lot of shoppers.
It operates two workplaces in central and regional Auckland.
With a crew of 15 threat advisors, brokers, and normal insurance coverage specialists, CIBNZ’s administrators and administration carry over 90 years of mixed expertise generally insurance coverage and the native market, Honan said.
CIBNZ’s acquisition varieties a part of Honan’s efforts to increase and diversify inside the New Zealand market.
As per the phrases of the settlement, CIBNZ will be part of Honan and retain the Certus Insurance coverage Brokers model identify.
Honan CEO Andrew Fluitsma stated: “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 offers us the regional experience backed by the Honan firepower to quickly increase our share of the Antipodean market.”
CIBNZ normal supervisor Mark Gustafson stated: “After constructing Certus Insurance coverage Brokers right into a profitable unbiased brokerage specialising in SME and home insurance coverage, now’s the proper time to change into half of a bigger and progressive Group.
“We’re excited to change into a part of a dynamic and numerous brokerage with a robust regional footprint. In becoming a member of with Honan it is going to 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).