Media Announcement
Tasman Insurance Brokers Acquisition
6 October 2006
Australian Consolidated Insurance Limited announces the completion of the acquisition of Auckland based insurance broking firm Tasman Insurance Brokers effective 6th October 2006. Tasman is a wholly owned subsidiary of the Australian Consolidated Insurance Limited group of companies.
This acquisition forges a strong trading relationship with well known New Zealand financial services company Blue Chip Financial Solutions Limited, which completed its Australian Stock Exchange listing in April this year.
Trading under the existing licence and well known brand, Tasman will embark on national growth maximizing the Blue Chip relationship in New Zealand whilst utilizing ACI's facilities and systems.
Australian Consolidated subsidiary company ACI Broking Services Pty Limited has now expanded its existing licencing to include life insurance, superannuation, and financial planning activities to provide financial services to its national client base. The expansion of the trading relationship with Blue Chip Financial Solutions in Australia will enable further penetration of ACI Broking into this sector.
ACI executive Stephen Sinclair will be responsible for New Zealand operations of Tasman effective immediately.