A New Era for ICIB
4 August 2020

We’re pleased to be able to share some very positive news about ICIB.

Our founder, Garry Mooney, has announced he will be stepping back from our business over the next year or so, as the final part of a carefully-planned transition that started four years ago. Garry has handed over the ownership of ICIB to several of our key employees, most of whom were existing shareholders, and to a new minority shareholder, Ascentro Capital Partners, a New Zealand-based investment firm.
This is good news for you as well, for reasons we’ll cover below, but nothing is changing in our relationship. All of your policies and regular contact people remain firmly in place.
We’ve transitioned to a new ownership model
The new ownership of ICIB is hugely exciting for everyone here at ICIB.
Garry has carefully planned his succession to minimise risk and to ensure he leaves ICIB in a strong, vibrant position.
Instead of Garry selling to an international competitor, four years ago he appointed a CEO to take over the running of ICIB, which included the transition of day-to-day client management to senior brokers. This then made it easy for him to transfer ownership to several key employees of ICIB. Going forward there will be clear pathways for other employees to earn a shareholding as well.
Additionally, a new investor, Ascentro Capital Partners, has taken a minority holding in ICIB. Ascentro has a mission to build and grow great companies, and they see ICIB as a high-quality company with huge growth opportunities.
Ascentro gives us access to additional capital and a mandate to focus on growing our team and our client base.
Our new growth mindset starts by keeping you as our top priority
Growth is essential for any business. For us, it also means we can become an even greater force on behalf of our clients. We can hire more specialists and provide more resources. We will maintain negotiating power when it comes to policy pricing and supporting you with claims, and we have retained our network relationships with NZbrokers and Lockton Global.
We’re planning to grow by expanding our quality team and attracting new clients, but we know that solid, sustainable growth starts with our existing clients. Protecting your business and its success will continue to be our top priority.
Spreading the word about ICIB to your colleagues
We’re proud to have one of the highest rates of client retention in the business. That’s because we focus on expert, unbiased advice, and back our clients 100% when it comes to claims.
Companies just like yours are exactly the sort of new clients we’re looking for. If you have friends or associates who need advice on risk management and insurance for their businesses, please mention us to them. We’d be very happy to show our appreciation.
Welcome to the new ICIB
We’re excited to start this new era for ICIB. We have a mandate for growth, an ownership model that gives all of us a chance to share in its success, and the energy that comes from positive change. We’re very glad to have you with us on this journey.
Yours sincerely,

Grant Milne,
CEO

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