Rivers Insurance Brokers has acquired IOOF Insurance Brokers from Insignia Financial.

Queensland-based Rivers says the investment will add scale to support investment in systems, extra capability for the combined businesses and increased leverage with insurers.

“This will ensure we can continue to provide the best possible outcome in terms of service, price, coverage and claims ... into the future,” Rivers said.

The combined business will have operations in Cairns, Innisfail, Brisbane and Melbourne, supported by 60 staff.

It will operate under the Rivers Insurance Brokers name, providing risk services to almost 10,000 clients.

Rivers MD Don Tickle says he sees “exciting opportunities” for the business. It will continue to work with IOOF’s former parent Insignia Financial, expand its network into Victoria and build scale.

“I am very excited to be welcoming the IOOF team to Rivers,” he said. “We have worked very hard in recent years to build a … business that is committed to looking after our team members and our clients.”