EML Group has completed the acquisition of an 80% interest in Guild Insurance following the announcement in February of a strategic partnership.

The Pharmacy Guild of Australia will retain a 20% interest in the insurer, which will continue to operate as a standalone business led by its management team and focused on tailored cover for industries through affinity groups.

Guild Insurance, established in 1963, offers specialist general and workers’ compensation covers and supports more than 40 affinity groups across healthcare, community services and other industries.

EML executive chairman Cameron McCullagh says the acquisition is an important milestone for his group.

“By bringing together Guild Insurance’s established workers’ compensation portfolio and underwriting expertise with EML’s scale and specialist claims capability, we’re creating a stronger national offering for employers, industry groups and their people,” he said.

EML Group says it will manage Guild Insurance’s workers’ compensation portfolio, including specialised NSW programs for pharmacies and early learning, creating “the only true national workers’ compensation offering”.

The deal will create opportunities to work with other industry groups and to explore broader general insurance solutions for EML customers, it says.

EML Group comprises Employers Mutual Limited and owners of the management company.