Authorised representative network Sphere Insurance Group has entered liquidation, according to the corporate regulator. 

A meeting on Friday resolved that the company would be wound up, with Tracy Lee Knight from WCT Insolvency and Restructuring appointed as liquidator. 

The Australian Securities and Investments Commission website shows 31 authorised representatives are “ceased”, effective last Tuesday, while 45 are listed as current. 

Sphere, headquartered in Mount Lofty, Queensland, was founded in 2015. The predecessor organisation was Marten Green Insurance Services. 

Peter Robert Lionel Marten is listed in an ASIC company extract as director and secretary of Sphere, as well as the major shareholder.  

The Sphere website, which says it is "undergoing scheduled maintenance", previously said the network’s leadership team held more than “100 years of combined insurance experience”. 

Some ARs have been looking at other networks as problems have become apparent, but the sudden shutdown of Sphere has “blindsided” many of those affected, sources have told insuranceNEWS.com.au. 

A Metrix Connect spokesperson says four ARs are migrating over – with one in contact since Friday – and in the past two years 11 have moved across. 

insuranceNEWS.com.au has contacted Mr Marten and Sphere seeking further comment.