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Sequoia Financial Group announces General Insurance Brokerage Acquisition


Sequoia Financial Group Limited (ASX: SEQ or the Company) is pleased to announce that it is acquiring the customer book of Tag Insurance Brokers Pty Ltd (TIB) and its associated business assets, and independent premium funding company.

Additionally, Sequoia has obtained a new general insurance AFSL. This allows SEQ General Insurance to operate in the same way Interprac Financial Planning Pty Ltd (a SEQ wholly owned company) does for advisers in financial planning and life insurance and compete with other general insurance brokerages offering an Authorised Representative service in the same way our core business does in planning and broking services.

TIB was formed in 1996 by Darren Goodman and is a very successful general insurance broking business based within the South-Eastern suburbs of Melbourne. It is currently generating more than $1M in brokerage revenue per annum and is a very mature, client focussed business made up of SME and larger commercial risks. It holds specialised expertise in the growing Allied Health/ Aged Care sectors as well as the Motor Trades and Hospitality sectors. 

For more information, download the attached PDF.

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