NZ broker buys stake in Wellington business

NZ broker buys stake in Wellington business | Insurance Business

NZ broker buys stake in Wellington business
Rothbury Insurance Brokers has announced its purchase of a significant stake in Wilkinson’s Insurance Brokers and its ancillary operations based in Wellington.

The new partnership became official on 1 July, 2014, with two of the existing shareholders, Nigel Smith plus Conrad and Julie Shanley continuing as shareholders.

Led by general manager Conrad Shanley, Wilkinson’s was established in 1997 and now manages a large client base both locally and nationwide.

Says Shanly: “We were looking for ways to continue to accelerate our growth and partnering with Rothbury, who are New Zealand’s 4th largest broker, will provide a platform to focus on growth opportunities.”

Rothbury was attracted to Wilkinson’s for its similar client focussed approach to delivering clients with independent professional service. Also, their sizeable footprint in the corporate and larger commercial insurance sector is expected to significantly strengthen Rothbury’s nationwide capability.

The addition, which will make Wilkinson’s Rothbury’s 15th broking branch, also increases the number of people working for Rothbury nationwide to 220.

The business is based in Wellington with a team of 18 people, and will remain as a stand alone operation. During the coming months Wilkinson’s will be transitioning to take on Rothbury branding.

Rothbury managing director Roger Abel said the partnership was great news for their future growth and an exciting time for the business.

“Rothbury has been focusing on a number of growth opportunities including expanding our corporate capability,” he said.

“We are looking forward to working with the Wilkinson’s team, and I firmly believe this partnership will be hugely beneficial to both businesses.”