Westcourt General Insurance Brokers has entered a premium funding joint venture with Principal Finance.

Adelaide-based Principal Finance will provide premium funding for Westcourt’s 85 authorised representatives (ARs) with a profit-share structure, and will manage the Westcourt Premium Funding brand through its eFund platform.

Westcourt MD Jeff Hollands says the premium funding platform is “simple and effective, providing real benefit for our authorised representatives and their clients”.

Although Westcourt was previously with Macquarie Pacific Funding, several of its ARs were using Principal Finance, Mr Hollands told insuranceNEWS.com.au.

Principal Finance CEO Daniel Gronert says the model allows significant financial returns to ARs through the profit share.

Retaining the Westcourt Premium Funding name enables the brokerage to capitalise on the brand while having access to Principal Finance’s technology and support, he says.

“Our partnership with Westcourt General represents the most significant deal Principal Finance has entered into on a national scale.”