Blog

We’re merging

We're merging to become Australia's largest independent funder

Together, we are excited to announce that Premium Funding Pty Ltd and Principal Finance are coming together under a new ownership arrangement to become the largest independent funder in Australia.

Pemba Capital Partners, a leading growth investor in Australia and New Zealand, has invested in both companies and we will merge under a new arrangement from January 29, 2021.

The complementary nature and experience of our two brands, along with the support of Pemba, presents substantial opportunity for synergies and growth. Our combined company will build further on our already well-established competitive product offerings and unrivalled industry innovations for our brokers and over 100,000 Australian clients.

The leadership team of our combined company has remained unchanged, with Daniel Gronert as Chief Executive Officer of the group and Ross Hayward the Head of Strategy and Systems. Barry Hayward, founder of Premium Funding Pty Ltd, continues in the business in a consulting role.

“Both Principal Finance and Premium Funding have been instrumental in driving innovation to make premium funding easier for brokers and clients. The opportunity to bring both companies together and partner with Pemba, who understand our industry and have the resources and expertise to support our growth aspirations, is extremely exciting,” said Daniel Gronert.

“Our goal was always to grow the business in a meaningful way that ultimately benefits our broking community and clients through efficiencies and scale. This new partnership allows us to achieve these goals and also maintain a focus on industry and technology advancement,” said Ross Hayward.

Customer Service will remain at the forefront of our minds as we commit to continue to deliver the same exceptional standards you have come to expect from us.

“Since our inception in 1992, we have seen our network grow exponentially due to the strong relationships we forge with brokers and clients. Principal share our same core values when it comes to service, so together we will continue to deliver on our promise – to provide personalised service from a team of seasoned insurance professionals,” said Barry Hayward.

We are committed to keeping you all informed through the integration process and will be in touch with regular updates.