Broking group Cowden has announced a deal to acquire City Rural Insurance Brokers in SA.

The acquisition was made via Cowden (SA) and the two entities will merge next month.

“For nearly 30 years, City Rural has been a family-owned and operated business in the Adelaide market,” Cowden CEO Alan Tokeley said.

“Both companies share similar beginnings and values, making this a perfect fit.

“We believe this acquisition will strengthen our brand in SA and underline our position as one of Australia’s leading independent broking houses.”

City Rural MD Andrew Benda said: “Having owned and run [the business] for the past 15 years, I felt it was time to look at the next step for us and how best to continue to support our clients. We are looking forward to becoming part of Cowden, a family-owned nationwide brokerage whose values and customer focus aligns with our core values.”

Perth-based Cowden celebrated its 50th anniversary in 2022 and is WA’s longest-running insurance broking business.