In a release late yesterday, the firm announced that IC Frith & Associates would be merging with Abbott Insurance Brokers to leverage Steadfast’s “competitive presence in the New Zealand commercial insurance market.”
According to Allan Reynolds, the executive general manager for Asia, New Zealand and direct at Steadfast, both entities boast a similar culture and positioning in the market and therefore should complement each other well.
“Both companies have been founded on a client-centred commitment to risk management and insurance services and specialise in small to medium enterprises, the backbone of the New Zealand economy,” he remarked.
He added that the depth of expertise and resource across the business would lead to enhanced services to clients across the country.
“Worldwide, we’re seeing new and emerging risks impacting everyday businesses and households,” he said. “Understanding risk management and insurance placement is now critical to business owners, and we know this new-look team has the depth of skills and expertise to help guide clients nationwide.”
The merged entity will trade under the Abbott brand from January 2018, with nationwide representation through eight offices from Auckland to Dunedin, supported by a head office in Christchurch.
Mark Reid, the general manager at Abbott Insurance Brokers, commented that clients will be looked after by their existing broker or account team; while Anthony Jones, IC Frith managing director, added that there would be no staff losses from the merger.
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