OAMPS and Centrepoint Alliance are going their separate ways in premium funding.Centrepoint Alliance announced to the ASX yesterday that the preferred agreement it had with Wesfarmers (OAMPS' parent) is terminated by mutual agreement from August 31 this year.The board of CAF had agreed to a proposal from Wesfarmers General Insurance and OAMPS that would "reduce its funding requirements and contribute to the preservation of its remaining insurance premium funding business."OAMPS Insurance Brokers plans to move to an exclusive new premium funding facility backed by Wesfarmers Insurance and called Monument Premium Funding.All current arrangements for OAMPS customers will be securely funded to maturity.Incoming CEO Keith McIvor said OAMPS would create a tailored offering specifically for its clients, modelled on the Crombie Lockwood/Monument Finance arrangement in New Zealand. It will start offering from September 1.Bob Dodd, CEO of insurance premium funding for Centrepoint, acknowledged in the ASX statement that "the last few weeks have been challenging for [our] team and our loyal customer base. With the restrictions placed on the business unit in respect of formal communication it has also been frustrating from an employee and customer perspective."Shares in Centrepoint were suspended in late April and the long delay in resolving the funding position of the group will have affected new business, and staff morale.A third of premium funding staff at Centrepoint have lost their jobs.One-time OAMPS CEO Tony Robinson will become CAF managing director on July 13.He had been CEO of IOOF Holdings from April 2007, after leaving OAMPS, and left IOOF about a month ago.Wesfarmers Insurance, meanwhile, will sell all of its securities in Centrepoint Alliance through Bell Potter Securities. The ordinary shares will be sold for 13.85 cents per share and non-voting convertible preference shares will be sold for 21.35 cents per share. Insurance News Australia