Marsh Advantage Insurance (MAI) says it is looking to further expand its authorised representative (AR) network following the deal with rural and financial services provider Landmark.

As reported in a Breaking News bulletin last week, Landmark will become an authorised representative of MAI.

Its 80 insurance brokers will offer MAI services to 65,000 clients in more than 250 rural and regional locations across NSW, Victoria, Queensland, Tasmania and SA.

MAI Executive Director Travis Kemp told insuranceNEWS.com.au the deal is a win for both sides.

“To come across an opportunity of this size, with such a strong brand, and in a segment where we did not see channel conflict within Marsh, was very exciting,” he said.

He says such significant opportunities to expand are increasingly rare.

“We have been on this journey now for about three years. It’s a highly competitive environment and certainly in terms of the type of AR that Marsh would want to be associated with, it’s a limited market.”

However, more acquisitions are likely, with specialist businesses increasingly targeted.

Mr Kemp says the Landmark brand will stay, as will its underwriting arrangement with CGU.

“It would make sense to maintain the strong Landmark brand as a foundation, but dual branding is our ambition,” he said.

“The core underwriting support for the Landmark portfolio comes from CGU and we would expect that to remain. We are very respectful of that long-term relationship.”

Preparations and training will begin immediately, and the “finalised system” will go live in May.