Perth-based Trident Insurance Group has acquired the insurance assets of LTM Risk Partners, in a joint venture with Steadfast.

MD Rick Wolozny told insuranceNEWS.com.au a small number of LTM staff have moved across to Trident.

“We have a total of 25 people now,” he said. “The acquisition adds a fair bit of size, and gives us extra clout in the market. LTM has been around for the best part of 20 years, but the owner wanted to look at other interests and Steadfast and I decided to acquire the business.

“There will be others we are looking at – it is not likely to stop there. This is the way the industry is going.”

Trident was formed in 1994 and has broking and underwriting agency divisions.