Abico Insurance Brokers acquires two Ausure representative businesses
ABICO Insurance Brokers has acquired two more Ausure authorised representative businesses, Professional Insurance Solutions Australia and Southside General Insurance, further growing their national footprint after their last acquisition, Ausure Macarthur in June last year.
Both purchases were finalised within 4 weeks of each other and align with Abico’s future goals. “This was a great opportunity to work alongside Jenny and Michael who both separately and successfully built great businesses that align with our continuing growth strategy, the Abico team now consist of 21 staff across 2 offices. Abico’s Wollongong office will shortly be relocating to accommodate for the growth of the business and staff levels (we are moving next-door)”. David North, Managing Director of ABICO Insurance Brokers.
David North – Managing Director of ABICO Insurance Brokers.
Professional Insurance Solutions Australia was previously owned by Jenny Sharman who purchased the book in 2004. “I have been in the insurance industry for 37 years, originally buying the business from a Financial Planner who I had been managing the book in 2004. My goal always was to retire by 55, so when I turned 55 in March and my financial planner gave me the go ahead – I knew it was time.
“Most of my clients are long term clients and I had been looking after them prior to 2004, so there were a number of interested parties. ABICO was the perfect choice; with my clients based in Sydney, the Southern Highlands (from a small book I bought years ago) and ABICO having offices in Sydney and Wollongong; The fact that they won best practice in 2022 gave me confidence knowing my clients would be in good hands.
“I have a list of projects a mile long to keep me busy and am planning to do a lot of travel, since finishing up in July I have had 2 weeks in Thailand, planned a month in Portugal, Spain and France for October and trips to the US and South Africa early next year. I can also spend more time visiting family and friends.” Jenny Sharman shares.
The second acquisition, Southside General Insurances, was founded by Michael Samut. Michael commenced business in May 1998, as an authorised representative of AMP GID and AFM Insurance Brokers, as a sole operator servicing the Business Insurance market. Michael Samut explains, “After 25 years it was time to consider retirement. Ausure introduced me to Abico Insurance Brokers and I was immediately confident that they would be able to provide my clients with a very high level of professional service. I felt comfortable that my clients would be happy to continue the relationship with Abico and Ausure.
“It was an extremely seamless transfer to Abico, which made the whole process a very easy transition for myself and also my clients. So now I am making the next transition to retirement, with my wife Trish and we are looking forward to lots of travel, (we have just upgraded our Campervan), We also have two amazing grandchildren, and look forward to lots of time spent with them at our local beach at Cronulla.”