Broker networks Insurance Brokers Network Australia (IBNA) and Insight Insurance Brokers Association have denied they are in discussions about the possibility of a merger.

A well-placed source told insuranceNEWS.com.au that the two networks had begun talks about teaming up but both Insight Executive Officer Bill Friend and IBNA Chairman Trevor Lofts denied the rumours.

“No, that’s not correct,” Mr Friend says.

Mr Lofts says that while insurers have suggested to him that the two organisations should merge, “there is absolutely nothing happening at this point in time”.

A merger would provide members of both organisations with additional scale, while giving Insight members access to membership of AIMS, IBNA’s joint venture with Austbrokers.