Media Announcement
Clarendon Insurance Brokers Acquisition
27 July 2006
Australian Consolidated Insurance Limited, announces the completion of the acquisition of Melbourne based insurance broking firm Clarendon Insurance Brokers Pty Ltd (AFS Licence Number 226902) effective 30th June 2006. Like ACI Broking Clarendon is a wholly owned subsidiary of the Australian Consolidated Insurance Limited group of companies. Trading under the existing licence Clarendon will embark on national growth utilizing ACI's insurer facilities and systems as well as launch its Authorised Representative business model.
The previous Principal John Marshall will remain involved in the insurance business as an Authorised Representative but will focus on Marshall Financial Planning's growth. A strategic partnership is in place to provide services to the ACI group in the eastern states.
ACI Broking is expanding its existing licencing to include life insurance, superannuation, and financial planning activities to provide financial services to its national client base.
A Chief Executive Officer will be appointed in due course, in the meantime Wayne Miller will manage the Clarendon and ACI Melbourne offices.