Bancorp Wealth Management New Zealand Ltd.
Bancorp Wealth Management New Zealand Limited: BANCORP ACQUIRES ANOTHER LEADING AVIATION INSURANCE SPECIALIST
DGAP-News: Bancorp Wealth Management New Zealand Limited / Key word(s): Acquisition BANCORP ACQUIRES ANOTHER LEADING AVIATION INSURANCE SPECIALIST “The acquisition will add around $350,000 in earnings to Bancorp and we would expect to see continued growth in the years to come.” Bancorp’s Managing Direct, Craig Brownie said. The business has a B2B focus dealing with other insurance brokers rather than the aircraft owner in most cases. It has been in operation for 20 years and is well known throughout the aviation insurance sector it operates in. Craig Brownie said, “There will be no changes to staff or how the business interacts with customers.” Although the business is an underwriting agency, Bancorp will not be taking any actual insurance risk on the aircraft. The full financial impact of the business acquisition will flow through into the 2017 financial year and be EPS positive from day one. Mr. Brownie reiterated, “We continue to look for the right acquisitions that we can add value to and that will increase the EPS of the Bancorp group.” About Bancorp
2016-07-18 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |