Wesfarmers Insurance has signed an agreement for its New Zealand brokerage Crombie Lockwood to acquire the business of ACM Insurances Limited, trading as ACM Ahlers.

It’s the second major acquisition by Crombie Lockwood in recent times. In March last year it acquired Christchurch-based broker Fraser Macandrew Ryan, also known as FMR Risk.

Wesfarmers Insurance MD Rob Scott says the acquisition confirms the company’s commitment to the New Zealand market and further extends its distribution reach.

Crombie Lockwood CEO Carl O’Shea says the two companies “are a great fit”.

“This acquisition is consistent with our strategy to accelerate growth with a focus on delivering customer value.”