Thursday, 15 December 2022: Network Insurance Group (NIG) is pleased to announce that on 13 December 2022, NIG acquired a majority interest in Perryman’s General Insurance Brokers (Perryman’s), in a move that will strengthen NIG’s offering not only across general lines of insurance classes, but significantly improve both its financial lines and construction and engineering portfolios.
This majority interest will provide Perryman’s clients with the benefit of scale, an expanded network of expertise and access to wider markets and infrastructure. For both parties, this will also deliver and enhance a growing national footprint, with a significant presence in South Australia, a market well known to NIG’s owners.
NIG, which is backed by Steadfast Group, has a long-established track record of financial strength, integrity and delivery for their valued and long-standing clients. In joining NIG, Perryman’s will have access to expertise across a diverse range of services and industries in working with brokers across New South Wales, Queensland, Victoria and Tasmania. Further, the benefit of access to the NIG infrastructure, including accessing markets, claims, compliance and broking support ensures that going forward, Perryman’s clients can immediately benefit from proactivity and support in ensuring as positive a client experience as possible.
Grant Perryman will remain in his capacity as Managing Director but also retains his position as a significant shareholder in the business. Mr. Perryman commented:
“I am delighted to have partnered with Network Insurance Group as we proactively engage the market in providing more resources and a greater risk management capability for our clients. The NIG owners are well known to the South Australian market, having lived and worked here in Adelaide for several years and by joining NIG, our clients can benefit from the scale this brings, the additional expertise around risk management and all aspects of broking operations, but importantly, provide our loyal client base with a more proactive client experience.”
Andrew Broughton, CEO of NIG commented: “Network Insurance Group is delighted to have partnered with Grant and his fabulous team in bringing two very similar cultures together and continuing to honour the legacy and goodwill that has been built with generations of clients over the past 40 years plus in and around the Adelaide and wider area. The South Australian market has always been close to my heart having lived and worked there and this acquisition provides us with a great opportunity to expand the NIG footprint.
“The journey so far with the Perryman’s team has been incredibly professional and collaborative and this augurs well for us in an area of Australia where we have active plans for ongoing business growth in supporting a range of existing and hopefully new clients going forward.”
Both Network Insurance Group and Perryman’s General Insurance Brokers are hugely excited about the future ahead, providing clients with a best-in-class service and delivering market leading risk solutions and advice.