“Regulatory concerns” forced Trowbridge Deloitte to split into two units, general insurance and financial services.

Colin Brigstock, MD of the new insurance arm, Finity Consulting, told Sunrise Exchange News the decision to split was “predominantly motivated by the regulatory environment in Australia and potential issues of independence”.

Finity Consulting is the Australian Prudential Regulation Authority-approved actuary for more than 20 insurers in Australia, Mr Brigstock says. “That provoked the need for this separation, and Deloitte and the general insurance partners felt it best to split the divisions. It’s amicable and there are no conflict issues this way.”

Agreeing with the recent decision by KPMG to split off its corporate liquidation, Mr Brigstock says the “issues are similar”. There will now be no constraints on the business after this move. “It’s the best solution to meet clients’ needs.”

Finity Consulting comprises 60 general insurance staff from the previous company, and has moved from Deloitte’s Grosvenor Place offices in Sydney. It’s now sub-letting premises from Deloitte in George Street.