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NZ broker buys Primesure

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NZ insurance broker Runacres has acquired broker Primesure in a bid to expand its presence in Auckland.

Christchurch-based Runacres – which has about 7500 clients and manages gross written premium (GWP) of about $40 million – also has offices in Auckland and the Auckland-based West Coast. Primesure manages 1750 clients and GWP of $7.5 million, focusing on general insurance.

Both are members of AUB-linked NZbrokers, the country’s third largest broking group.

Primesure’s former MD Tony Nicholl will help during the transition process, after which he will leave the group. Senior broker Cameron Hollis has taken over as MD with immediate effect. Primesure will keep its own brand.

Runacres MD David Crick says increasing the broker’s North Island footprint is one of its key strategic initiatives.