Former Territory Insurance Office (TIO) executive Luke Harris has bought the management rights for MGA Insurance Brokers’ Darwin portfolio.

He will take over from July 1, with support during the transition from current owner Jon Bourke.

“We are pleased the portfolio will stay in local hands because the NT remains a key area of growth for MGA,” MD Paul George said.

“The sale of management rights results from a well-developed model, whereby authorised representatives have an opportunity to be part of a well-structured and supported national broking business.”

MGA says Mr Harris has a wealth of experience as an insurance executive in the NT with the Allianz Group, and was most recently state manager for the TIO.

Adelaide-based MGA, founded in 1975, has 39 offices nationally and is also pursuing international expansion.