The Steadfast-backed broker Network Insurance Group (NIG) has announced its acquisition of Nadic Insurance Brokers (Nadic), effective May 06, 2022.
Nadic has long developed a strong presence in the Hunter region and has expanded its operations into Sydney and the Gold Coast in recent years.
In a statement released on LinkedIn, NIG’s chief executive officer Andrew Broughton said the acquisition will enable NIG to strengthen its own operations in the Gold Coast and northern New South Wales, which began last year.
“We are thrilled to continue our growth journey in 2022 via the acquisition of Nadic and we are very excited to be working with Dallas, Mitchell and the team into the future as we expand in this key growth region,” said Broughton.
Broughton added that the new partnership will offer “tremendous scope for future development,” adding that Nadic’s quality team and diverse client base align well with NIG’s own philosophy and values.
Nadic chief executive Dallas James said the brokerage will continue to provide its clients with high quality service “enhanced by the support of NIG.”
“As we integrate over the next 12 months, we look forward to improved systems and efficiencies provided by the strength of the partnership,” said James. “This will free us up allowing us to introduce new accounts and better serve our current client base. I look forward to supporting NIG continue its growth as a major force, and representing the Hunter/Newcastle area.”
