A Victorian insurance brokerage that was raided by the Australian Securities and Investments Commission (ASIC) is reviewing its future.

Griffiths Goodall is understood to be working with a former insurance industry senior executive to explore a range of options, including a sale of the business.

The company’s office in the regional centre of Shepparton was raided in March by officers from ASIC and the Australian Federal Police, and a number of files were seized. ASIC is believed to be examining invoices and the amount of premium charged.

Director Ben Goodall told insuranceNEWS.com.au the company is “undertaking a review of its structure, including taking advice around the best approach towards succession planning and future growth opportunities”.

“We have no set timeframe to our internal review, which is simply about how we refresh our strategy and look to best position the company for the next anticipated phases of growth,” Mr Goodall said. “Unequivocally, it remains business as usual at our firm.”

Mr Goodall says a review is “timely” for the business, which was formed 30 years ago.

Speaking after the raid earlier this year Mr Goodall said it was “not a police search or criminal investigation” and related to “a paperwork-based issue, which we strongly deny”.