Diversa to acquire insurance business
Diversa will acquire a group life and salary continuance insurance business from Peter Mueller & Associates as part of the manager’s stated strategy of servicing Australia’s superannuation and funds management sector with an emphasis on responding to the changing regulatory environment.
Under the agreement, Diversa will acquire the business for $450,000 payable over three years, with future payments subject to conditions including obtaining necessary variations to the relevant Australian Financial Services Licence, the manager said in a statement to the Australian Securities Exchange.
Peter Mueller & Associates principal Peter Mueller will stay on for at least three years, Diversa stated.
AUTHOR
Mike Taylor
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