Merger creates fifth largest broking firm in New Zealand

Merger creates fifth largest broking firm in New Zealand

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2023 February 07

AUB Group is pleased to announce the merger of its broking business BrokerWeb Risk Services (BWRS) with ICIB, an independent brokerage, to form ICIB BROKERWEB Insurance and Risk Advisory, making it the fifth largest broking firm in New Zealand.

The merger significantly enlarges the scale and capabilities of both businesses, offering clients access to more local service and a greater level of specialist skills right across New Zealand.

ICIB BROKERWEB will be led by Grant Milne, the current ICIB Managing Director, with the Leadership team comprising senior managers from both ICIB and BWRS.

The merged company will be owned by AUB Group and senior members of management.

AUB Group MD and CEO Mike Emmett commented, “I am very pleased to welcome Grant and the ICIB team to the AUB family.  ICIB are a well-respected and admired broking team with capabilities and a geographic footprint that is an excellent complement to BWRS.  The merged business will be one of the leading broking businesses in New Zealand offering significant opportunities to our team and benefits to our clients.”

ICIB BROKERWEB Managing Director Grant Milne says, “I am thrilled to have been given the opportunity to both invest in and lead ICIB BROKERWEB and build on the foundations that have deep roots back to the mid-1970s. We have an exciting time ahead as we create the next chapter of the business, enhancing the services we provide to our clients and the new career opportunities we can create for our employees. We have a fantastic team which I can’t wait to lead”