Community Broker Network (CBN) has acquired a majority stake in the ARMA group of businesses, which holds brokerage operations across NSW and Queensland.

ARMA, which was founded in 2017, operates within the CBN network, carrying several individual businesses which will continue to act under the ARMA brand.

CBN says the investment comes as it looks to support the group’s “next phase of growth and development”.

“CBN’s purpose is to empower our ARs so they can deliver superior insurance outcomes for their clients,” CBN CEO Richard Crawford said.

“At times, this support has extended to investing in an AR business to give them the financial strength to grow and develop and realise their ambitions.”

CBN says it and the current ARMA principals will jointly own ARMA Group Co, with five separate businesses now coming together as one company. ARMA MD Amanda Morris will continue to head the group, in her new role as CEO of the company.