AUB Group has merged BrokerWeb Risk Services (BWRS) with ICIB to create the fifth largest insurance broking firm in New Zealand. 

The transaction, creating ICIB Brokerweb Insurance and Risk Advisory, significantly enlarges the scale and capabilities of both businesses and offers clients access to more local service and a greater level of specialist skills, AUB says. 

The merged business will be led by current ICIB MD Grant Milne, with the leadership team comprising senior managers from both ICIB and BWRS. 

“ICIB are a well-respected and admired broking team with capabilities and a geographic footprint that is an excellent complement to BWRS,” AUB CEO Mike Emmett said. 

“The merged business will be one of the leading broking businesses in New Zealand offering significant opportunities to our team and benefits to our clients.” 

AUB said at its full-year results that improving and enhancing the performance of its New Zealand operations was one of the priorities for the current financial year, and that changes had been made to boost the performance of BWRS. 

ICIB Brokerweb will be owned by AUB Group and senior members of management.