Austbrokers has acquired Team Insurance Agencies in Orange and Forbes for an undisclosed sum.
The existing Austbrokers RIS business in Orange has relocated to TIA’s offices at Lords Place, Orange, providing a stronger retail presence for the network and doubling the current Austbrokers RIS team in the area.
Austbrokers now has four branches in NSW, employing 37 staff and servicing a GWP of $32m,
“This has been in planning for some time,” said Matt Coleman, managing director of Austbrokers RIS. “It’s an important strategic move for us, providing a greater footprint in the central west. There are many synergies between the two businesses.”
Mal Irwin, regional director, said the deal meant Austbrokers RIS will see it “commit greater resources and expertise to the region”.
"This marks Austbrokers ninth acquisition this financial year and is part of Austbrokers ongoing growth and acquisition strategy,” Mark Searles, managing director and CEO of Austbrokers Holdings added.