The restructuring of Centrepoint Alliance wealth advice businesses will not affect the premium funding operations.

Centrepoint Alliance Insurance Premium Funding CEO Bob Dodd told insuranceNEWS.com.au there were no changes to his business as a result of the restructuring.

“We separated our business from the wealth operations some time ago,” he said. “Premium funding is a separate business with no covenants to the other operations in Centrepoint Alliance.”

Centrepoint has been given court approval to reorganise 11 of its subsidiaries in its wealth division. These are mainly businesses connected with Professional Investment Holdings.

As a result these subsidiaries will be transferred into four divisions to reduce the overheads from running the separate entities.

Mr Dodd says the premium funding business has developed its own bank lines over a number of years and is completely separate from the wealth businesses.

“We have become a self-contained business that is taking market share,” he said.