Home / Daily / 360 goes rural with Insure That stake
14 June 2019
360 Underwriting Solutions, the underwriting agency set up in 2017 by former senior Allianz executives Denis Morrissey and Chris Lynch, has acquired a majority stake in specialist rural agency Insure That.
The acquisition gives 360 a new farm and regional capability and a foundation to deliver brokers solutions for farming clients, complementing its current commercial, aviation, accident and health, commercial motor and cyber products.
“We now have a suite of farm products, the Insure That team which operates in all states, and a technology platform that will allow us to establish a significant presence in the market,” Mr Morrissey said.
The acquisition was completed in partnership with three agriculture experts: Matt Devine, formerly of Agri Risk, Anthony Murphy of Red Star Insurance Brokers and Julie Bird, a director of the Almond Board of Australia and manager of agri consultancy 1DAY.
Insure That founder and MD Peter Hayward, who will stay on in an advisory capacity, says the involvement of 360 Underwriting in the business will help give it greater scale and a more significant presence in the market.
Renewals for farm, B&B, strata and asset products will remain under the Insure That brand, while existing business and property policies will receive new offers for 360’s commercial and commercial motor products.