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FMG announces purchase of Quadrant Insurance Group

Media Release 23 June 2011

FMG announces purchase of Quadrant Insurance Group

New Zealand's leading rural insurer, FMG today announced the acquisition of Quadrant Insurance Group, the country's leading provider of comprehensive equine and livestock related insurance.

According to FMG Chief Executive Chris Black, "Quadrant is a strong strategic fit for FMG. We have worked with Quadrant in the past and there are natural synergies between the two companies that make acquiring their specialist portfolio an ideal investment as part of a broader growth strategy."

Quadrant Insurance Group has been insuring bloodstock for over 25 years, providing comprehensive 'stand alone' or speciality packaged equine protection solutions. Mr Black says, "Quadrant products have been developed by people with both proven insurance industry experience and a strong understanding of the equine, thoroughbred, standard bred and livestock related businesses."

"This acquisition will make it easier for our clients to obtain advice and insurance to address all their business, personal and lifestyle risks in one go through FMG who now have everything under the one roof," commented Mr Black. Under the agreement, Managing Director of Quadrant Insurance Group, Mike Parkinson, will join FMG on a two year contract to support the transition of the business to FMG and assist further develop the product portfolio.

- End -

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