A PERTH-BASED insurance broking firm is looking to rebrand itself to create distance between it and embattled West Perth-based property investment group, SAS Global.
SAS Global Insurance Broking managing director Glenn Simpson told WA Business News internal discussions regarding rebranding were ongoing, but would be complete before the end of this year.
Mr Simpson said the company was looking to change its image to eliminate confusion after five of SAS Global’s property entities were placed into administration or receivership earlier this month.
He said the financial pressure facing the embattled property group was not affecting the insurance business, because SAS Global Financial Planning only holds a 15 per cent minority interest in SAS Global Insurance Broking.
“We’re a separate proprietary limited company with a separate AFS licence, trading in a completely different industry segment,” Mr Simpson said.
The relationship with SAS Global began in 2007 as a way for the insurance company to build a client base through SAS Global’s networks, but Mr Simpson said there had been no communication between the firms during the past 12 months.
“For the last year or so we haven’t had much to do with them at all, so as a relationship it wasn’t going anywhere, but it didn’t concern us,” he said.
“I think the rebranding is something we can look at because the SAS Global relationship is really just in name only, and that name has obviously been in the press a bit.
“It’s not making any commentary on whether it’s good, bad, or indifferent, I just don’t think it’s going to be helpful for us, in a branding sense, to get new clients.
“We can maintain our existing client base because they know us and understand where we’ve come from, but going forward other people might not be so keen to deal with the SAS Global name.
“Business is a pretty fluid thing ... so if you think it’s not going to be in your best interests going forward, you have the opportunity to make a change.”
