Rothbury Insurance Brokers will acquire TSI Brokers and Consultants, effective May 01. Financial terms of the transaction were not disclosed.
The deal will now mean Rothbury will service its 47,000 clients across 24 locations in New Zealand, including new offices in North Harbour, Mt Maunganui and Gisborne.
“Growing the team and expanding our presence around the country in order to provide service locally is part of our growth strategy,” says Paul Munton, executive general manager – broking branches, at Rothbury Insurance Brokers.
“We’re delighted to welcome the TSI team to Rothbury. Our companies have enjoyed a close association for several years now and this alliance is an ideal fit for both our teams and clients. We know they share our ethos when it comes to delivering personal service and quality advice.”
The merger, the company said, will bring added value for TSI clients who will benefit from Rothbury’s size and capacity to offer a broader range of insurance options, exclusive products and services. Rothbury is a New Zealand majority-owned business and claims to be the third largest insurance broker in the country.
“Ensuring long-term continuity and security for our clients and staff has been our key focus in planning for the future,” said Garry Bray, managing director of TSI. “The team will carry on with business as usual and continue to provide our clients with the high level of service we pride ourselves on. We’ve just become part of a much bigger team and that’s very exciting.”