ICIB Brokerweb has bought the life and health risk business of Chris Boon's Adelphi Insurance Brokers.
Boon, will retain the financial investment side of the business while the portfolio of life and health customers he has built over many years will now be owned and serviced by the ICIB Life & Health team.
ICIB Managing Director Grant Milne says; “As with any business we choose to invest in, the client value proposition must align to our own. Adelphi not only has this alignment but brings a strong client base that enables our life and health business to grow to scale, particularly in the Canterbury region. It also brings the opportunity to expand our fire and general business with our ability to offer the full range of risk-based insurance solutions to Adelphi’s clients.”
While ICIB continues to scale up, Christchurch-based Chris Boon is looking to scale down, so the timing worked for both companies.
Boon says, “I had reached a juncture where the business was continuing to grow but I wanted to focus on my other business ventures. I am grateful to have found the right people in ICIB to look after my clients in the same way I have always done, whilst having the opportunity to retain and look after the clients who require the more specialised side of financial investment advice that I am passionate about.”
ICIB is looking forward to getting to know their new clients over the coming months with the team having taken on new life and health advisers to ensure that Adelphi’s clients are well looked after. The Adelphi clients will be serviced by the ICIB Brokerweb Canterbury business led by Jay Nam.
”This is an exciting new chapter for both ICIB and Adelphi,"" Milne says. "Chris is well respected in the industry, so we really are pleased to have been able to work with him to make this purchase happen to meet both of our future goals.”
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