Insurance broking firm MGA Insurance Brokers has purchased Terry Grant Insurance Agencies in Victoria, just weeks after acquiring Capital Wealth Insurance Brokers.

The latest acquisition, which becomes effective on June 30, gives MGA new branches in Portland and Heywood in regional Victoria.

Terry Grant is an Authorised Representative of CGU, Allianz and QBE.

As part of the deal, Dennis Morgan and Gareth Morgan at MGA’s Warrnambool office, would take overall management of the portfolios. The three existing Terry Grant staff members will be retained.

MGA’s managing director, Paul George, said the acquisition would increase MGA’s branch network to 28 offices across Australia.

“Terry has been running a strong regional brokerage in western Victoria for many years concentrating on the farm, SME and retail sectors. Both offices have good history in the area,” George said.

“He has a strong connection with the region and has agreed to stay on for a period of time to help settle things in.”