Diversa acquires group and salary insurance business
Diversa has acquired a group life and salary continuance insurance business as part of its strategy to build on products and services for its partners and super fund members.
In an announcement to the Australian Securities Exchange (ASX), Diversa stated that it had acquired the business from Peter Mueller and Associates. The principal of Peter Mueller and Associates, Peter Mueller, will stay on with the business for at least three years.
Diversa stated that it had acquired the business for $450,000 in cash payable over three years, with future payments subject to it obtaining the relevant Australian Financial Services Licence, among other conditions.
Diversa stated that it had been seeking growth through collaboration, acquisition, partnering, product enhancement and investment in distribution.
Recommended for you
Insignia Financial is targeting its salaried financial advisers increase their revenue per adviser by 62.5 per cent over the next five years.
AWAG and Teaminvest Private Group have teamed up to offer a succession lending fund to help advice principals navigate succession planning and enjoy their retirement.
LGT Crestone chief executive Michael Chisholm believes the firm was chosen to acquire Commonwealth Bank’s personal advice arm due to its strong private market capability.
Advisers will now be able to tap into global markets on the platform through international signature managed accounts from global managers like T. Rowe Price and Lazard.
