Centrepoint Alliance has completed the refinancing of its premium funding bank facility with NAB.

“The new arrangement… has a facility limit that is flexible to meet our growth ambitions, with lower rates, fees and capital requirements,” the company says.

Premium Funding CEO Bob Dodd says the “new, cheaper facility” will support the company’s growth program.

Centrepoint’s revenue at group level fell 8% to $24 million for the six months to December 31, as underlying pre-tax profit slid 26% to $3.2 million, hit by weaker commercial rates.