Centrepoint Alliance Premium Funding has renewed its joint venture arrangement with insurance broker cluster IBNA for another three years.

The agreement has been in place for more than 10 years.

Centrepoint CEO Bob Dodd says Centrepoint and IBNA have a close working relationship and due to a review of the existing agreement “some enhancements will improve the return to members immediately”.

“In this type of joint venture when our operating costs become more favourable, it’s better for us to pass these on to our partner,” Mr Dodd told insuranceNEWS.com.au. “If we can have a positive impact on them, then it’s good for us as well.”