Oxley Insurance Brokers (OIB) has entered a corporate authorised representative (CAR) agreement with its Coffs Harbour branch managing shareholder Ken Phillips, who is setting up his own business.

Director Grant Richmond says Mr Phillips will exit the business after a replacement branch manager is appointed and has settled in.

Mr Phillips – who has almost 30 years’ insurance experience, including a decade with OIB and roles in underwriting and business development for Zurich – will become MD of KP Insurance Brokers and a corporate authorised representative of OIB.

“It is a new challenge,” he told insuranceNEWS.com.au. “I am just looking to run my own business under my own name and focus on some high-end clients and a smaller number of them.”

OIB, which is part of the Austbrokers group, targets business and commercial insurance, with workers’ compensation, life insurance and financial planning provided by related entities.

“We are pleased there is an opportunity to continue working with Ken under a CAR model and appreciate and acknowledge his significant contribution to our Coffs Harbour branch over many years,” Mr Richmond said.