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Ensurance reviewing offers for Australian brokerage assets

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Ensurance reviewing offers for Australian brokerage assets

Australia-based Ensurance Ltd. is evaluating nonbinding purchase offers for its retail brokerage businesses in the country.

The company said May 8 that there is no certainty as to the timing and pricing of a potential disposal. It added that it is seeking to sell the brokerage assets as part of a strategy to build its operations overseas, predominantly as a managing general agent.

As part of the strategy, the company intends to expand its U.K. operations and its underwriting agencies.

ASX-listed Ensurance Ltd. owns an insurance brokerage, an underwriting agency and an IT company, according to its website. The company was created following a merger between Ensurance Capital Pty. Ltd. and Parker Resources Ltd. in 2015.