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Perth Insurer To Merge With PIH

Vanessa Doctor

2 May 2010

Centrepoint Alliance, the West Perth-based insurance funding firm, has announced plans to merge with Professional Investment Holdings, a financial services provider, through an all-scrip transaction.

Under the proposal, PIH shareholders would have 80 per cent of the post-merger entity, with Centrepoint Alliance's Tony Robinson as the managing director. PIH would then become the wealth management arm of the listed group.

The deal, which is still subject to regulatory approvals, is expected to be completed by July, Centrepoint said in a statement.