Australia’s Community Broker Network (CBN) has entered the New Zealand market with the launch of CBN NZ, following the acquisition of the digital broking alliance Folio, the group announced on Thursday, 7 August.
The move marks CBN’s first foray into international markets, leveraging its strengths in AR support and community alongside Folio’s platform innovation and digital enablement.
Folio will retain its platform and technology operations, while its broker network will operate under CBN NZ, supporting Authorised Representatives (AR) across the country.
CBN NZ will continue to operate locally under the helm of Alistair Monk, who co-founded Folio in 2020 and serves as Director of Insurance. In addition to maintaining business as usual, Folio will benefit from the support of a larger group dedicated to empowering brokers in delivering advice to clients.
Roneel Kumar, Co-founder and Head of Technology at Folio, said, “This agreement allows us to double down on that vision, focusing entirely on delivering the most intelligent, intuitive broker platform in the market.”
“At the same time, we know our broker community will be well-supported by CBN, whose scale and experience make them an ideal partner for this next chapter,” Kumar added.
CBN, backed by the Steadfast Group in Australasia, is the largest general insurance authorised broker network with over 900 brokers, operating across offices in Melbourne, Perth, and Adelaide in Australia.
