Elders has acquired another 10% stake in Elders Insurance Underwriting Agency (EIUA) from QBE, raising its holding to 20%.

The price of the transaction, expected to be finalised on Thursday, is confidential.

Elders had sold its last holding in the agency to QBE in June 2014, to retire debt.

It “re-acquired” 10% in April this year, and has now made another investment.

“This acquisition further aligns the EIUA and Elders networks by delivering an even more meaningful share of EIUA’s earnings to Elders,” Elders CEO Mark Allison said.

“Elders now has the ability to deliver greater insurance earnings to its branches. This in turn will encourage greater levels of engagement and cross-sell between Elders and EIUA.”

EIUA is the vehicle through which Elders Insurance-branded products, underwritten by QBE, are sold to rural and regional clients via Elders Insurance franchisees.