Broker network to acquire part of AR group

Broker network to acquire part of AR group | Insurance Business

Broker network to acquire part of AR group
Steadfast Group Ltd has agreed to acquire 72.3% of Ausure Group, an AR group in 150 locations across Australia.

Ausure has a normalised FY15 forecast EBITA of approximately A$4 million.

Ausure managing director Troy Brown said he’d seen the value the Group could bring to Ausure after working with Steadfast as members for the past two years.

“The Steadfast Virtual Underwriting System (SVU) alone has dramatically improved the productivity of several p arts of our business and we are excited about its future potential to improve our business,” said Brown.

“With the support of Steadfast, we are now in a position to accelerate our growth initiatives.”

Steadfast managing director and CEO Robert Kelly said he was excited to partner with Ausure.

“We believe its AR network provides Steadfast with an opportunity to attract smaller brokers into our fold.

“Ausure has a history of delivering increasing value for its brokers and other stakeholders and we look forward to helping their network build on this.”

Brown also thanked the staff and owners of Hollard Insurance for their support over the past six years.

“They have helped Wayne, Trent and I take a few ideas and create one of Australia’s leading diversified broking businesses.

“They were a crucial part of the Ausure team that helped us get to where we are today.”