NSW-based Horsell International has acquired brokerage Fordyce Wells Reeve (FWR), acquiring $75 million in business as it pushes into the commercial market.

Horsell Director of Retail Operations Rohan Stewart says FWR is active in the corporate and liability classes globally. The acquisition, with about $11 million in premium income, will enable Horsell to offer commercial classes of insurance and expand its client base to more than 3000.

“In the next three years we aim to make more acquisitions in the commercial and small and medium-sized enterprise market,” he said. “There is another to be finalised shortly.”