Centrepoint Alliance is selling its insurance premium funding business to BOQ Finance. The deal is worth A$20 million and will be completed in January next year.Centrepoint's Alliance's core business is providing services to financial planners. The finance division has been flat over the past couple of years and the company conducted a strategic review during the year. It concluded that the business would be better off under different ownership.Centrepoint Lending provided 29,023 loans to fund $377 million of premiums during the year to June. Most of the borrowers were small and medium sized businesses.While the number of loans was up two per cent on the previous year, the value of premiums funded was down two per cent - the second consecutive year the value of funded premiums was down.Bank of Queensland chief executive Jon Sutton said in a statement that the business would be a good fit for BOQ Finance, which offers a number of specialist finance products for the SME sector. "Under BOQ's ownership the business will benefit from funding cost synergies, while also providing opportunities for product expansion," Sutton said. "The transaction demonstrates that we are delivering on our strategy of growing specialist niches."