Coverforce has become co-owner of Leed Insurance Group, acquiring a 50% stake in the Perth-based brokerage.

Leed will be rebranded as Coverforce Leed Insurance Broking, as the partner businesses look to grow in WA.

“The co-branding is an interim step towards Coverforce Leed Insurance Broking adopting the Coverforce brand in WA,” a statement says. “Leed is a highly respected 32-year-old insurance brokerage known for its ability to deliver quality outcomes for clients through compelling product and service offerings.”

Leed CEO Con Manetas will continue to head the team in WA.

“Coverforce wanted to expand in WA, and when we discussed the possibilities with them, we realised we make a pretty good fit for each other,” Mr Manetas told insuranceNEWS.com.au.  

Leed is a long-time member of the Insurance Brokers Network of Australia (IBNA) network, while Sydney-based Coverforce was formerly a member of the Steadfast network, but switched to IBNA on March 31.