Ever-expanding broking network OAMPS has bought national sports and leisure specialist IEA Brokers. IEA – which will be integrated into OAMPS branch offices in six states – will bring more than 7000 clients and $23 million in annual insurance premiums to the group.

CEO Tony Robinson says the acquisition adds significant volume to the group’s rapidly growing broking division “and will introduce a range of additional opportunities for us in the longer term”.

IEA was established as the Insurance Exchange of Australia in 1978, and built strong relations with a number of major sporting bodies and associations.

Brokers Nigel Branson and Rod Hughes bought IEA in 1999 from Axa, which sold it as part of its general insurance exit strategy.

Last week OAMPS announced a record half-year profit result of $9.73 million after tax, a 27.6% increase on last year’s half-year profit.