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
With regional and rural suburbs exhibiting high spare capacity to invest, Money Management speaks to three regional advisers on the opportunities beyond the major cities and the importance of a strong network.
Platform consolidation is expected to accelerate among financial advisers this year, as software company Finura pinpoints which two platforms are set to be the winners, thanks to this trend.
The software provider has made several appointments in its APAC wealth propositions team, with a focus on driving growth across digital advice, Xplan and strategic partnerships.
The platform has announced it plans to close its Xplore managed discretionary account service in 2026 which holds $2 billion in funds under administration.
