AUB Group and independent New Zealand broker BrokerWeb Risk Services have joined forces to take a 50% stake in Dawson Insurance Brokers in the North Island city of Rotorua.

The transaction price has not been disclosed, and AUB Group declined to comment on it when contacted by insuranceNEWS.com.au.

“We are very much looking forward to having Dawson as part of our family,” BrokerWeb MD David Archer said.

“It is an example of a really strong, client-focused insurance broker, and we look forward to supporting its growth into the future under our partnership model, which we have adopted from the greater AUB Group.”

Dawson Insurance Brokers has almost 4000 clients and earns more than $NZ15 million ($14.1 million) in annual gross written premium.