Consolidated Insurance Brokers has bought Gold Coast-based HFI as it continues an active acquisition program to build the business.

The acquisition extends the geographic reach of Brisbane-based Consolidated and takes the company’s total gross written premium (GWP) to about $15 million.

“Our goal is to get up to $20 million GWP,” Consolidated MD William Paull told insuranceNEWS.com.au. “We are still on the lookout for acquisitions.”

The company has previously purchased the HFI Bundaberg business and also has a presence in Emerald, the Sunshine coast and Ipswich.

Last June Consolidated bought the client book of Sydney-based All Class Insurance Brokers, which collapsed earlier in the year.

Consolidated, a member of Steadfast, was created in 2010 after the restructure of Suncorp agency Australian Income Insurance Solutions.

Mr Paull says HFI was also a former Suncorp agency and its client list fits well with Consolidated’s existing business.