IBNA shareholders have given a confident “two thumbs up” to the proposed alliance with Austbrokers. A general meeting on December 5 gave the cluster group’s directors authorisation to settle the alliance terms on members’ behalf.

Austbrokers and IBNA have been in discussions since they announced plans to merge in May. They share a non-binding heads of agreement to explore the pros and cons of a formal alliance.

Austbrokers Company Secretary Steve Rouvray says the IBNA approval is an important step along the road to an alliance. “Austbrokers and IBNA will now look to progress the negotiations and settle the definitive agreements to implement the alliance.”