Australian private equity firm Pemba Capital Partners has agreed to acquire Allianz Australia Limited’s wholly owned subsidiary, Hunter Premium Funding.
Hunter allows businesses to pay their insurance premiums in regular instalments rather than as one large lump sum.
The Hunter brand will remain unchanged and will benefit from continued investment in its people, systems, and funding capacity. Employees will be offered the opportunity to transfer as part of the acquisition.
The completion of this acquisition is currently targeted for April 1, 2025, subject to certain conditions precedent, including the finalisation of regulatory approvals.
Richard Feledy, Managing Director, Allianz commented, “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, Pemba Capital Partners, added, ”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.”
