Media Announcement
Hammond Insurance Broking Pty Ltd Acquisition
28 February 2007
Australian Consolidated Insurance Limited announces the completion of the acquisition of Perth based insurance broking firm Hammond Insurance Broking Pty Ltd effective 28th February 2007. Hammond Insurance Broking becomes a wholly owned subsidiary of the Australian Consolidated Insurance Limited group of companies.
This acquisition forges a strong trading relationship with well known Western Australian rural co-operative United Farmers Co-operative which has over 40 agents and 3,500 members. ACI will promote its rural brand, Rural Insurance Brokers Pty Ltd building upon the existing joint venture with the United Farmers Co-operative.
I am delighted to announce that Hammond Insurance Broking's previous Managing Director, Russell Bresland joins the Australian Consolidated group as General Manager - Affinity/Schemes. His role will focus on growth across the group in Australia and New Zealand in schemes and our Not For Profit sector specialty.
The acquisition will involve merging of the WA operations of Australian Consolidated subsidiary company ACI Broking Services Pty Limited with Hammond Insurance Broking Pty Ltd.
Current ACI Broking Services Pty Limited WA Chief Executive Neil Watson assumes responsibility for the combined operations.