Ausure Newcastle announces two acquisitions
Ausure Newcastle announces two acquisitions | Insurance Business Australia
Insurance News
Ausure Newcastle announces two acquisitions
Bosses of both acquired firms looking to retire
Insurance News
By
Daniel Wood
Ausure Newcastle has completed its second acquisition in less than week. In a media release, the brokerage has announced its acquisition of an Ausure authorised representative (AR) firm in Mudgee. The purchase follows last week’s purchase of Ausure Byron Bay.
“Ausure Mudgee seamlessly complements our existing Ausure branches in Dubbo and Orange,” said David Summers (pictured above), principal of Ausure Collective in Newcastle.
Ausure Mudgee was a one-man operation run by Craig Brennan. According to the release, Brennan was looking to retire and said he was confident Ausure Newcastle was large enough to provide support to his existing portfolio.
“I am 64 and find it difficult to continue on as a single broker with many different contingencies these days,” he said.
The release also said Brennan “brings a wealth of insurance expertise and a client-centric approach.”
Last week, Ausure Newcastle announced the acquisition of Ausure Byron Bay. The firm’s owner, who founded the business in 2005, was also looking to retire.
“I now intend to finally retire and hopefully improve my golf, keep fit, fish and travel,” said Mick Urquhart. “We are so happy to have sold to Ausure Newcastle, as they already have a connection with the area.”
Urquhart, who will be staying on to assist in the transition, also said he was confident that his clients would continue to receive “the service they have become accustomed to.”
The release said once negotiations were completed, “the sale was finalised within 8 days.”
Ausure, according to its website, is one of Australia’s largest insurance broking and advice companies with more than 330 ARs across the country.
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