Risk Company Update

Certe buys Genesis Financial Partners

Specialist insurance advice firm Certe has bought Genesis Financial Partners, creating a firm with nine advisers plus staff. The transaction is part of the firm’s growth strategy. The deal stipulates that Phil Robbins and Wilton Wong will stay with the group for a minimum of three years. The two businesses will operate independently for the coming 12-18 months before merging some functions. Certe bought 60 per cent of Genesis upfront, with the remaining 40 per cent to be bought later.

Zenith Wealth joins Fortnum

Tasmanian financial advice company Zenith Wealth has joined Fortnum Private Wealth from AMP’s Hillross. Zenith has two offices, one in Tasmania and one in Queensland.

OnePath Life transfer complete

Zurich’s transfer of OnePath Life life insurance business has been finalised, with OnePath’s assets and liabilities, including all life insurance policies, transferred to Zurich from 1 August 2022. OnePath Life will retain assets to meet its regulatory requirements, while OnePath Life policies are now treated as Zurich policies while operating the same way for the consumer.

Westpac Life sale complete

Westpac has announced the sale of Westpac Life Insurance Services to TAL Daichi Life Australia is complete. All Westpac’s life insurance business and policies are now transferred, alongside 345 Westpac Life employees, who are all now joining TAL.