South Australian brokerage Surewise will begin formally trading under its new name on Thursday after a merger of three Adelaide-based businesses that are majority owned by Steadfast Group.

The combined brokerage, which will handle about $60 million in gross written premium and has a team of 50, brings together Steadfast Brecknock, Newmarket Grandwest and IC Frith and Associates.

The creation of the larger group reflects Steadfast’s strategy of encouraging regional mergers to create stronger business hubs.

Newmarket and IC Frith had previously joined forces through Steadfast, but were still trading under separate names.

Surewise will operate from Hindmarsh Square and Flinders Street offices in Adelaide’s central business district.

New CEO Peter Blanco – the co-founder of SA broker De Conno & Blanco – was previously approached by Steadfast in 2017 to manage a hub created by the merger of MFP, VFP and Brecknock.

Newmarket Grandwest MD Erin Bernhardt becomes COO of Surewise and IC Frith’s John Marini has been named Executive Director.

Surewise will mainly service corporate and SME markets, operating Australia-wide and with a strong local and regional presence.