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360 moves to country with rural agency stake

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360 Underwriting Solutions has expanded into the agriculture space, taking a majority stake in specialist rural agency Insure That.

The growing underwriting agency, established in 2017, was already active in commercial, aviation, accident and health, commercial motor and cyber lines.

“We now have a suite of farm products, the Insure That team, which operates in all states, and a technology platform that will allow us to establish a significant presence in the market,” 360 founder Denis Morrissey said.

The deal was completed in partnership with agriculture experts Matt Devine, formerly of Agri Risk, Anthony Murphy of Red Star Insurance Brokers and Julie Bird, a director of the Almond Board of Australia and manager of agri consultancy 1DAY.

Insure That MD Peter Hayward will stay on in an advisory capacity. He says 360 Underwriting’s involvement in the business will provide greater scale and presence in the market.

Renewals for farm, B&B, strata and asset products will remain under the Insure That brand. Business and property policies will receive new offers for 360’s commercial and commercial motor products.