Two Perth-based Steadfast brokerages have merged with the acquisition by Elliot Insurance Services of Accord Insurance Brokers Group.

Elliott CEO John Elliott says he has paid a deposit for Accord with the final price to be based on the amount of Accord business Elliott retains within a year.

Mr Elliott started his brokerage in 2008 and has built a niche of around 1000 clients, mainly in workers’ compensation and public liability insurance.

Accord, which was established in the late 1990s by Des Beazley, focuses on the agricultural and mining sectors and has more recently moved into commercial insurance.

Elliott New Business Development Manager Tim Cooper told insuranceNEWS.com.au the acquisitions “will give us an elevated standing in the Perth insurance industry, which creates benefits for both companies and our clients”.

Accord’s in-house team and one authorised representative, Peter Jones, will come over to Elliott from August 1.