“From an alignment perspective, it was a really good synergy.”
“The merger was about what I call a ‘growth agenda’,” shared Milne, who was down in Christchurch meeting with the BWRS team there after addressing the workforce in Auckland a day prior. “The ICIB business has been in accelerated organic growth mode for the last couple of years, and we’ve made a number of people investments to support that priority in the business.
“At BWRS, similarly there’s been a number of people investments made over the last couple of years, and they were looking to achieve the same goal. So, from an alignment perspective, it was a really good synergy there in terms of the two businesses.”
As reported previously, BWRS had been undergoing a transformation – installing new branch managers and brokers, with a view of growing the business and improving its contribution to parent AUB.
Milne sits at the helm of ICIB BROKERWEB, which boasts of a combined 170-strong roster. All locations, with the exception of Auckland, will carry on as usual under the new brand. It’s in Auckland where an actual ‘merging’ will take place.
“One of the really good things about this merger is that other than in Auckland, every other location was either ICIB or BWRS,” Milne told Insurance Business. “So, effectively, what we’ve been able to achieve is a national spread of business without actually having to merge any of the branches together. The only material change will be the two Auckland central businesses coming together and all locations adopting the new ICIB BROKERWEB branding in early 2023.”
Aside from the footprint element, one major change is the way the wider brokerage is structured.
“The new business is owned in a combination between AUB and some senior employee shareholders,” noted the managing director. “That has been one of the biggest changes in terms of how the team will see the business in terms of how it’s run.
“It’ll be more locally focussed. The aim is to create more autonomy at the local level so the team can be a bit nimbler and a little bit more creative around the client service delivery, depending on what they need for their own location. I think that’s the biggest change in terms of the businesses coming together.”
For now, Milne is spending the time before the holidays to get around and meet everyone, ahead of ICIB BROKERWEB creating “the next chapter” of the business from next year. The reception, he said, has been positive, with staff now having a bigger platform to work with not only for themselves from a career perspective, but also in terms of what they can deliver for clients.
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