Australia’s leading private insurance brokerage Insurance House, has announced the acquisition of two NSW-based brokerage firms – Tamworth-based Insurance Hub and Port Macquarie-based Insurance House 360 (IH360), effective 1 July.
This follows the acquisition of Innovative Insurance Brokers in Wagga in April of this year.
These acquisitions are in line with the business’ strategy to broaden its regional and rural footprint nationally, and will further elevate Insurance House’s standing as one of the largest privately-owned insurance brokerages in Australia.
Jim Karafilis, Head of Regional & Rural, Insurance House, warmly welcomes both businesses, noting the synergies with Insurance House, particularly the increased capabilities to deliver an enhanced service offering to customers, together with greater career opportunities for employees alike.
“Our whole ethos is centred around constantly strengthening our representative footprint nationally through a rapidly growing regional and rural network of professionally staffed broking and authorised partner offices,” Mr Karafilis said. “This complements our vision to become the leading brokerage in the marketplace, with a specialty in the agricultural sector.
“We’re are somewhat going against the grain – a number of companies are retracting from rural and regional areas, while Insurance House is committed to engaging better with our customers by providing a specialist local and personalised service for our customers.”
“These new acquisitions are highly complementary to our business, and by leveraging the existing strengths of IH360 and Insurance Hub, we are able to provide a broader range of products and services to our clients,” Mr Karafilis said.
Scott Leis, Director IH360 who will be stepping into the role of Head of Metro Broking, and joining the Insurance House leadership team, is excited by the opportunities this merger will bring for both the business, and wider community.
“We will now be able to deliver on some of the promises and planning we’ve had in place, but lacked the resourcing to execute,” Mr Leis said. “The instant access to capital has allowed us to invest in our staff and business, and having the support and national presence of Insurance House will enhance our current offering to clients.
“We will have greater buying power and access to a wider and more robust range of services that we couldn’t offer previously as a small brokerage. Going forward, we’re looking to provide a more timely and efficient service to our customers, to help them actively engage with their insurance.
“Ultimately, we want to strengthen our connection with our local community through increased collaboration with community groups and sponsorships.”
In Tamworth, staff numbers are set to double in the region, and Director Garron Pannan applauds the convergence of two of the most respected firms in the region, especially with regards to the increased footprint and opportunities for growth it provides.
“This pooling of resources and expertise, plus the support provided from the head office in Melbourne comes at an opportune time for our business, providing customers with a widening market and increased access to products and deals.
“For our existing clients, it means that we will have increased buying power resulting in opportunities for competitive pricing. The streamlining of business functions also allows us an easier pathway to offer high quality service and access to experts in specialist areas that were previously unavailable to the business.”
The acquired businesses will fall under the Rural Broking division of Insurance House.
