- Pemba Capital Partners, a leading private equity firm in Australia, has agreed terms to acquire the Hunter Premium Funding business (Hunter) from Allianz Australia Limited.
- Hunter brand to remain, with Hunter to benefit from continued investment in its people, systems and funding capacity.
Allianz Australia Limited announced today that it has entered into an agreement to sell Hunter to Pemba. Hunter gives businesses the ability to pay their insurance premiums in regular installments, rather than in one large lump sum payment, and is currently a wholly owned subsidiary business of Allianz Australia.
The strong Hunter brand will remain the same, and Hunter employees will be offered to transfer with the acquisition.
Allianz Managing Director, Richard Feledy, said: "Hunter Premium Funding is a leading brand in the insurance premium funding space. Our decision to sell this part of our business was made with a focus on simplifying our core operations and ensuring we continue to deliver the best possible value to our partners and customers. We believe that this move positions us to concentrate on what we do best while allowing Hunter to grow and thrive under its new ownership. We wish the Hunter team every success into its next chapter."
Robert Haybittel, Partner at Pemba Capital Partners, said: "We are excited to announce our partnership with Hunter. As a well-established brand, we see tremendous potential for growth and innovation. Having partnered with premium funder, Arteva, for several years now, we have considerable experience and insight in this area. With Arteva primarily working with small to mid-sized businesses, and Hunter large companies, we see great opportunities for both brands to grow and deliver even greater value to brokers and customers.”
Completion is currently targeted for 1 April 2025, subject to certain conditions precedent, including regulatory approvals, being finalised.
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About Allianz Australia
Allianz Australia has been securing the future of our customers in Australia since 1914. We deliver a wide range of personal and commercial insurance products and services to more than 4 million policyholders. We also provide support for workers' compensation insurance to around 25% of the top 200 ASX companies, making us one of the leading workers' compensation insurers in Australia.
Allianz Australia Limited is a wholly owned subsidiary of the worldwide Allianz Group. The Allianz Group is one of the world's leading insurers and asset managers with corporate customers in more than 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life, and health insurance to assistance services, credit insurance and global business insurance. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we are among the leaders in the insurance industry in the Dow Jones Sustainability Index.
Allianz Australia Limited is a wholly owned subsidiary of the worldwide Allianz Group. The Allianz Group is one of the world's leading insurers and asset managers with corporate customers in more than 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life, and health insurance to assistance services, credit insurance and global business insurance. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we are among the leaders in the insurance industry in the Dow Jones Sustainability Index.
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This article has been prepared by Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL234708 (“Allianz”). In some cases, information has been provided to us by third parties and while that information is believed to be accurate and reliable, its accuracy is not guaranteed in any way.
Any opinions expressed constitute our views at the time of issue and are subject to change. Neither Allianz, nor its employees or directors give any warranty of accuracy or accept responsibility for any loss or liability incurred by you in respect of any error, omission or misrepresentation in this article.
Any opinions expressed constitute our views at the time of issue and are subject to change. Neither Allianz, nor its employees or directors give any warranty of accuracy or accept responsibility for any loss or liability incurred by you in respect of any error, omission or misrepresentation in this article.
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