OAMPS has become the other insurance group to watch in the Australian market, for different reasons to QBE.

While the Melbourne-based diversified insurer is also enjoying big profit rises (its profit for the six months to December 31 is tipped to exceed the previous financial year’s full-year profit) it’s the speed of the OAMPS M&A strategy that has analysts watching with interest.

Most recently the company has purchased Adelaide-based Ian Berry Insurance Brokers from the Police Credit Union to make it the biggest broker in the state. It has formed a new Client Management Division; and it continues to bring experienced managers on board.

Ken Brown, who until recently held a 13-branch franchise with the Colonial Bank, will head up the Client Management Division.

And former Insurance Agents of Australia Association Chief Executive Murray Morgan has been employed for in-house coaching on product marketing and delivery.

The continuing swift build-up by OAMPS will be further funded by a share placement that is expected to raise $4.9 million.

OAMPS says its is now the largest Australian-owned insurance broker, with 20 offices and 350 staff servicing more than 200,000 clients.