Agribusiness Ruralco has agreed to acquire a 50% joint-venture interest in Ausure Consolidated Brokers (ACB).

The deal, which should be completed in the next few weeks, will see Ruralco Insurance merge its assets into ACB.

The combined business will operate under Ausure’s financial services licence.

Ausure, which is partly owned by Steadfast, says Ruralco is an ideal partner.

ACB MD Mick O’Bree told insuranceNEWS.com.au that combining the two networks will bring huge benefits to both parties.

“It’s about merging our national presences and providing a more tailored and specific insurance service to our clients,” he said.

Ruralco says Ausure’s established brand lays a good foundation for further growth and acquisitions.

“The flexibility of the Ausure broking business gives our customers access to the most competitive policies,” EGM Financial Services Ian Perry said.

“The singular focus for our brokers is negotiating price-conscious, best-fit insurance.

“This joint venture achieves this, delivering greater buying power and experienced insurance management for regional Australia.”