AB Phillips has announced a new acquisition for its national broking business.
The firm has acquired Fergusons Insurance Brokers which became part of the AB Phillips Group on 23 June.
The deal will see AB Phillips partner with the Frankston-based firm as long-time shareholders in the firm, Alan Marsden and Alan Saunders, transition into retirement.
Both AB Phillips and Fergusons Insurance Brokers fall under the
Austbrokers banner and the acquisition of Fergusons will see AB Phillips enhance its “dominant presence” in the south east corridor of Melbourne.
“We see strong synergies between the AB Phillips and Fergusons businesses and are eager to share ideas and further grow our Insurance, Risk and Financial Services solutions with the support of the Fergusons team,” AB Phillips said in a statement.
The firm also confirmed that all current Fergusons staff will remain with the business as Ferguson clients will continue to be serviced by the Frankston-based team.
Related stories:
Arthur J Gallagher makes latest acquisition
Insurance M&As slow across all sectors
.jpg)
