InterRisk Australia says it has strengthened its strategic direction with the acquisition of authorised representative group Lyne & Associates.

The broker’s purchase of the former authorised rep of Brookvale Insurance Brokers aims to cement InterRisk’s position in the SME and affinity insurance market.

MD Dennis Guy says the venture will bring “substantial mutual benefits” and generate more than $10 million in premium revenue.

Lyne & Associates owner Alan Lyne says InterRisk was the right fit for his business, as it needed to be aligned with an organisation that had established operations in other states.

He says the move will help some of its rapidly expanding affinity schemes.

Lyne & Associates employees will remain at their existing office in the northern Sydney suburb of Balgowlah, but will operate under the InterRisk Australia banner.