Network Insurance Group acquires boutique broker
26 Could 2022
Steadfast subsidiary Network Insurance Group (NIG) has reached an settlement to amass Sydney-based brokerage World Dangers.
Established in 2005, World Dangers specialises in medium to giant non-public and listed organisations along with servicing excessive web price people.
“We’re delighted to be partnering with the World Dangers group who proudly service a extremely valued section of the market,” NIG Chief Normal Supervisor Adam Farr mentioned.
Headed by Bonni and Leonard Gordon, World Dangers says the acquisition supplies it with important entry to worldwide markets.
“Becoming a member of NIG will profit World Dangers’ shoppers, particularly by the present exhausting market circumstances which we anticipate to persist for a while,” Ms Gordon mentioned.
“As proud members of the Steadfast Group, NIG has entry to Steadfast’s majority shareholding in UnionSteadfast, with entry to markets and functionality in quite a few areas all over the world.”
Co-Principal Leonard Gordon says his long-time relationship with Mr Farr allowed for a clean negotiation.
“We’ve recognized Adam and [CEO Andrew Broughton] for over 20 years and through this time have at all times had a superb relationship constructed on belief and mutual respect which made for a clean course of,” Mr Gordon mentioned.
“We really feel very snug that we now have joined an organization that has excessive rules and believes within the insurance coverage trade doctrine of utmost good religion, which is extraordinarily vital to World Dangers.”
World Dangers says the acquisition could have no impression on the day-to-day interplay with shoppers.
“Importantly, we can proceed to run the enterprise in the identical method as we presently do and can proceed to concentrate on servicing our shoppers as we now have performed prior to now. For our shoppers, nothing will change in respect of the day-to-day expertise and interplay.”