The premium funding market is hotting up with the announcement this morning of a merger decision by finance companies Centrepoint and Alliance.

The merger, to be finalised by September, will result in the formation of a new company to be known as Centrepoint Alliance Limited. The company will use Alliance’s present Stock Exchange listing.

Centrepoint Premium Finance MD Bob Dodd – who will become CEO of the new company’s premium funding division – says the merger will provide a “stronger proposition” for brokers. “We are committed to continuous improvement in local customer service, product development and technology.”

New services planned for Centrepoint Alliance’s premium funding business will include the ability to renew annual premium funding agreements and add mid-term endorsements and access to web-based interfaces with all leading broker software systems.

Martin Kane, currently MD of Perth-based Alliance, will be the Executive Director (Group Services) of the new business.