Independent brokerage ICIB has merged with AUB Group’s broking unit BrokerWeb Risk Services (BWRS) to become New Zealand’s fifth largest insurance broker.
To be known as ICIB BROKERWEB Insurance and Risk Advisory, the combined business will operate under the leadership of current ICIB managing director Grant Milne. He will be supported by a management line-up that consists of ICIB and BWRS senior managers.
“I am thrilled to have been given the opportunity to both invest in and lead ICIB BROKERWEB and build on the foundations that have deep roots back to the mid-1970s,” commented Milne.
“We have an exciting time ahead as we create the next chapter of the business, enhancing the services we provide to our clients and the new career opportunities we can create for our employees. We have a fantastic team which I can’t wait to lead.”
ICIB BROKERWEB will be owned by senior management and AUB Group.
“I am very pleased to welcome Grant and the ICIB team to the AUB family,” said AUB Group managing director and chief executive Mike Emmett, whose camp has made its New Zealand performance a priority for 2023.
“ICIB is a well-respected and admired broking team with capabilities and a geographic footprint that is an excellent complement to BWRS. The merged business will be one of the leading broking businesses in New Zealand offering significant opportunities to our team and benefits to our clients.”
Financial terms of the merger were not disclosed.
