Wangara, Western Australia – 4 October 2015: Oracle Group Insurance Brokers is pleased to announce a merger between itself, WA-based Centro Chambers Insurance Brokers and Queensland-based Agile Insurance Advice. The merger will be official on January 31, 2016, and the new company will retain Oracle Group's branding nationally and continue to use Agile’s brand across in Qld, NSW & Vic.

In a joint statement, Oracle Group Director Nathan McKeon and Centro Chambers Managing Director Graeme Dorrell, advised that the merger is expected to:

● Increase profits by allowing the three firms to share operations
● Create more opportunities to work with mainstream & specialist insurers
● Better utilise staff, thus enhancing availability and experience

"We see it as a coming together of three similar entities in culture and the way we service our clients. The merger will provide our Perth-based head office as well as our Australia-wide clients with valuable, experienced staff," said Mr McKeon.

A united purpose

After the merger is complete, the new company is expected to generate $30 million in premiums within the first 12 months. The immediate focus will be to maintain the same high standard of service to our existing client’s and build on developing opportunities presented.

One of the additional benefits of the merger is that it allows the expanded Oracle Group to increase its existing Authorised Representatives (ARs) network for those Brokers who prefer the AR model at this stage in their careers.

The Oracle model also offers brokers the option to move from ARs of the Group to full partners in the Company should they wish to become involved in the management and direction of the Brokerage.

Mr Matthew Denehy, executive director of Agile Insurance Advice and Insurance Brokers Network Australia (IBNA) board member, believes increased numbers of ARs are going to become the industry norm.

"[ARs] were shunned early in their existence, but the life insurance industry has been working this model successfully for over a decade, having large licensees and a massive number of ARs. It was only a matter of time before the general industry followed suit. The next generation cannot afford to buy into AFS licensees, so the obvious answer is to start your own mini business as an AR, and the Oracle Group can assist you with that option," said Mr Denehy.

Combining expertise

Once the new organisation is established, Mr Graeme Dorrell - current Managing Director of Centro Chambers - will serve as Managing Director of the new organisation. With more than 40 years’ experience in insurance broking, underwriting and management, Mr Dorrell's specialties include private, commercial and franchise policy development.

Mr Denehy has been in the insurance industry since he was 16. A successful entrepreneur and ambitious professional, Mr Denehy operates four companies and holds three other board positions.

"Having Matthew on board also puts our company in a great position, as he is involved with the IBNA and AIMS on a national basis. We are also really looking forward to the increased opportunities with our mainstream insurers and the value they can provide our company," said McKeon.

Overall, the new board of directors will have more than 190 years of aggregate insurance experience. Without a doubt, the new Oracle Group will be well prepared to serve its SME & Corporate clients throughout WA, Queensland, NSW and Victoria.

For further information please contact:

Matthew Denehy                                       Nathan McKeon                                      Graeme Dorrell
Agile Insurance Advice                            Oracle Group                                           Centro Chamber
0409 396 355                                             0414 405 651                                           0417 927 744
[email protected]                             [email protected]              [email protected]
www.agileinsuranceadvice.com.au       www.oraclegroup.com.au                     www.centrochambers.com.au