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OAMPS buys WA marine insurance broker


Insurance broking major The OAMPS Group has purchased specialist Western Australian maritime industry insurance broker, Gault Armstrong Kemble Pty Ltd.
OAMPS Group chief executive officer Tony Robinson said the GAK business was an excellent fit for OAMPS' existing operations.
"We are building on our 2005 acquisition of Gault Armstrong Pty Ltd in Sydney. The two businesses have a lengthy association and now combine to become a major insurance broker for Australian maritime industries," said Mr Robinson.
"This acquisition provides OAMPS with the opportunity to significantly expand our market share in specialist maritime insurance; a large and growing sector.
"We are pursuing a growth strategy based on identifying niche markets where we believe we can enhance service offerings to customers. We are expanding our presence in these markets through the acquisitions and GAK fits our criteria of proven service delivery and profitability," he said.
GAK managing director Ric Clarke welcomed the acquisition by OAMPS.
"With the resources of OAMPS, our people - who have all been retained - can concentrate on providing the highest quality insurance broking services to existing and potential customers," he said.
OAMPS sales from all activities in 2004-05 totaled just over $1 billion.

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