Melbourne-based Midland Insurance Brokers has purchased Mt Eliza brokerage Holland Insurance for an undisclosed sum.

Midland MD Terry Lane says the business built by Brian Holland since 1988 provides new synergies and opportunities for his city-based company.

“There’s a lot happening down on the Mornington Peninsula,” he told insuranceNEWS.com.au. “Apart from SME businesses and some retail, Brian has also built an impressive film industry insurance business, and we have some complementary services that will work in well.”

Both companies are members of the IBNA broking cluster.

Mr Lane says Mr Holland will continue to work in the business for at least two years and the name of the company will not change.

“It means Brian will have more opportunity to engage in marketing instead of being totally engaged in the day-to-day working of a busy brokerage,” he said.

The merger will take effect from March 1.