MBS Insurance acquires Honan Life
Life/risk insurance advice business, MBS Insurance has acquired the life insurance arm of Honan Insurance Group in an transaction aimed at extending its ability to provide life insurance advice.
The deal will see former Head of Honan Life, Katherin Beard together with risk specialists, Peter Blassis, Tyler Scarce and Garth McLardie joining MBS Insurance.
Commenting on the transaction, MBA Insurance partner and Co-CEO, Drew Burden said demand for quality life insurance advice is high and growing but adviser numbers are not.
“We want to play a leadership role in growing that pool, which means aligning ourselves with the right people and businesses to drive those better client and advice outcomes, while also unlocking greater market opportunities for our sector,” Burden said.
Under the arrangement, MBS will take on a number of Honan Life Insurance’s joint venture partnerships and referral relationships.
Burden said the company’s increased scale would enable it to be flexible and creative in developing business growth and succession solutions for advisers.
“We are focused on growing and partnering with advisers to deliver quality life insurance advice, whether that’s acquiring all or part of a business, forming joint venture arrangements with advice firms, or recruiting and training new advisers inhouse,” he said.
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