Austbrokers has gained another brokerage, purchasing a 50% stake in Ferdi Nel Insurance Brokers of Chatswood.

The specialist trade credit insurance broker has been in operation for the past eight years.

Austbrokers CEO Lach McKeough says the deal with the broker will expand Austbrokers further into the specialist market.

“We are constantly looking for growth opportunities, and with trade credit insurance being a very specialist market, the involvement with Ferdi Nel Insurance is certainly one that will provide an additional specialist or niche capability for the network,” he said.

The broker’s clients range from small and medium-sized enterprises to multinationals. It has built up a portfolio of large primary produce exporters and also deals with export credit insurance.

The business will trade under the Austbrokers brand as Austbrokers Trade Credit Insurance.