Stirling Risk Services (SRS) will take exclusive rights over Suncorp Metway’s corporate agents business under a new referral agreement. The move comes as SRS also seals a banking finance deal that will enable it to shop for brokerages.

MD Paul Lyman said the agreement means SRS Insurance Brokers will act as broker for “certain classes of insurance business” serviced by Suncorp Metway Corporate Agents. These classes no longer fall within Suncorp Metway’s underwriting guidelines.

Mr Lynam said the agreement with Suncorp will allow SRS to expand its retail division within the next 12 months. “With the timing of the current insurance market cycle and the introduction of the FSRA, we believe that this is an opportune moment for further growth within our retail division.”