Austbrokers Central Coast (ACC) – a member of the national broking network Austbrokers – will soon become the region’s largest brokerage after acquiring Gosford-based broker Claydon Insurance Brokers (CIB).

Takeovers are becoming the norm for many small brokers, and CIB MD Bill Claydon told Sunrise Exchange News it’s the only way many small brokers can get ahead in today’s market.

“Although we have our AFS licence, for many small brokers the constant challenges and requirements under the FSRA make it almost impossible to act independently,” he said. “I’m getting older, and I’m quite excited about the opportunities that will come from this move.”

ACC MD Bob White says CIB – which will be absorbed under the ACC name – will relocate in April, but all staff will be retained.