A newly signed heads of agreement between Perth-based Alliance Finance Corporation and the Insurance Brokers Network of Australia will see Alliance distribute its products using the IBNA membership national network.

Apart from almost doubling the size of its broker network, the move will give the group broad penetration into the eastern states, Alliance Finance MD Martin Kane said.

It’s estimated the IBNA network will contribute at least $50 million in new loans to Alliance’s books within a year.

As for the future, it seems things can only get better for Alliance with the current insurance premiums funding market worth between $1.7 billion and $2.2 billion in loans written annually, with an expected increase of 20% per annum over the next two years.