OAMPS Insurance Brokers has announced the acquisition of the client portfolios of Sydney-based Information Technology Insurance Services (ITIS) and its associated enterprise, Workers’ Compensation Consulting.

CEO Brian Austin says the acquisition of the two businesses further builds on the “historically successful” tactic of developing specialist expertise in selected insurance markets.

Insurance broking professionals with a robust understanding of the IT industry are rare, he says. “ITIS have set themselves apart by being able to offer clients speciality insurance advice and excellent products such as information technology liability, network protection and intellectual property insurance.

“Workers’ compensation cover, a vital component of assessing business cost and risk management, will also be better resourced as a result of the acquisition.”

Mr Austin says OAMPS’ acquisition strategy “was built around acquiring insurance broking businesses that can grow under the OAMPS Group, and we expect these businesses to flourish”.

Staff from both businesses have relocated to the OAMPS North Sydney office.

Meanwhile, Richard Cawsey, the former head of investment services at St George Bank, has joined the board of OAMPS as a non-executive director.