Rothbury partners with Lifetime
Published Date: 13th Dec 2016 | Category: News
Auckland, 12 December 2016 – Rothbury Insurance Brokers has taken a 19.5% cornerstone stake in Lifetime Group, a full service financial advisory network with 90 staff across New Zealand who advise on loans, insurance, investment and planning.
Secondly Rothbury has purchased Lifetime’s general insurance broking and premium funding operations. Lifetime’s Christchurch headquarters in Moorhouse Avenue will become the home of Rothbury’s Christchurch branch.
Thirdly Rothbury Life’s life insurance and mortgage team of 22 based in Auckland, Tauranga, Hamilton and Wellington will become part of Lifetime Group, which currently has advisers in 13 New Zealand locations. Rothbury Life will continue to operate under the Rothbury Life brand.
In addition, Rothbury Managing Director Roger Abel will join the Lifetime board as a director along with Rothbury Group Director Owen Shaw as alternate.
The partnership deal cements a working relationship and bond between the two businesses, creating one of the strongest financial services businesses in New Zealand.
Established in 1950, Rothbury is now a leading New Zealand insurance broking group with 14 broking branches and 35,000 clients. The transfer of Lifetime’s general insurance broking team of 14 will grow the number of people working for Rothbury nationwide to 250.
Mr Abel said the partnership, which will take effect on 22 December 2016, creates a broader service offering for Rothbury’s and Lifetime’s combined clients.
Lifetime Group is a well-known and respected business established in 1999. “We’re both national-operating companies with very similar cultures and complementary client offerings,” says Mike Jones, CEO, Lifetime Group. “There’s a natural alignment of values – our organisations each take pride in our integrity, ethics and accountability.
Mr Abel said the partnership presents opportunities for Rothbury Insurance Brokers, Rothbury Life and Lifetime to all benefit, grow and share collective knowledge both within the businesses and with clients.
“Lifetime Group’s client-focussed approach to delivering independent professional service aligns perfectly with Rothbury’s values. Rothbury already has offices in Christchurch and Ashburton, but this step provides a great opportunity to strengthen our presence across Canterbury, New Zealand’s second largest region.
“Our business has had a very successful last few years with more new clients entrusting their insurance needs with Rothbury than ever before. Rothbury was named the Large Broking Company of the Year for the third year running at the New Zealand Insurance Industry Awards in November, which shows we are gaining significant momentum. I firmly believe this opportunity will be hugely beneficial to both businesses and is great news for our future growth.”
For more information contact:
Rothbury Insurance Brokers
Ph: 09 526 8320
Ph: 03 372 1930
About Rothbury – www.rothbury.co.nz
Established in 1950, Rothbury is today one of New Zealand’s leading insurance broking groups with 14 broking branches nationwide and 35,000 clients serviced by over 250 staff. Rothbury was the winner of the Large Broking Company of the Year at the New Zealand Insurance Industry Awards in 2014, 2015 and 2016 and a finalist in the IBM Kenexa Best Workplaces Awards each year from 2013 to 2016.
Rothbury delivers commercial insurance solutions to small, medium and large enterprises and protects the assets of thousands of individuals. Rothbury prides itself on providing personalised service, smart solutions, quick action and commitment. The company’s ownership structure offers clients the security of a larger firm with the commitment of a local owner.
Along with broking services, Rothbury also owns a number of underwriting agencies including Classic Cover, Covi Insurance and Go Cover Car Insurance. Through its partnership with Lifetime Group, Rothbury offers advice on loans, life insurance, investment and mortgage solutions .
Rothbury is a member of The Steadfast Group, the largest general insurance broker network in Australia and New Zealand. Comprised of 340 brokerages with over 1,000 offices, the group generated over A$6.1 billion in sales in FY2015.