Network Insurance Group acquires established brokerage

Steadfast-backed Network Insurance Group has acquired Nadic Insurance Brokers, which has a long history in NSW’s Hunter region as well as offices in Sydney and the Gold Coast.

Dallas James, who has been CEO at Nadic since it was founded in 1966, says he is delighted.

“We look forward to improved systems and efficiencies provided by the strength of the partnership. This will free us up allowing us to introduce new accounts and better serve our current client base,” Mr James said.

“I look forward to supporting Network continue its growth as a major force and representing the Hunter/Newcastle area.”

The Nadic team, including director Mitchell James, will continue to work with existing clients as the pair integrate over the next year.

Melbourne-based Network CEO Andrew Broughton says the Hunter region – the seventh largest population base in Australia – aligns strategically with Network’s moves into the Gold Coast and Northern NSW last year, and offers “tremendous scope for future development”.

“We are very excited to be working with Dallas, Mitchell and the team into the future as we expand in this key growth region,” said Mr Broughton, who was formerly EGM Consumer & Retail Partnerships at QBE and held senior roles at Allianz, where he spent 13 years.

“Nadic already has a quality team and diverse client base which aligns well with our philosophy and values and bodes very well for the future.”

Network, which is majority owned by Steadfast, specialises in general risk management, workers’ compensation, claims management and specialty industry risks.

It has offices in Melbourne, North Sydney, Tuggerah, Burleigh Heads and Brisbane, and representation extending to Ballina, Launceston and Hobart, and a presence in Singapore, Malaysia, Nepal, the UK and New Zealand.

Network recently appointed Pete Stansfield as COO and Damian Hicks, who has held senior roles at Allianz, as GM Schemes and Affinities.

Nadic says it spans general insurance, business insurance, professional indemnity and directors insurance, mining and allied industries, travel insurance, income protection, life insurance, employee benefits and workers’ compensation.