AUB Group Archives - InsuranceAsia News https://insuranceasianews.com/companies_category/aub-group/ Fri, 23 Aug 2024 08:26:32 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 AUB launches third strata MGA Rubix Underwriting as division’s pre-tax profit surges 58% https://insuranceasianews.com/aub-launches-third-strata-mga-rubix-underwriting-as-divisions-pre-tax-profit-surges-58/ Fri, 23 Aug 2024 08:20:50 +0000 https://insuranceasianews.com/?p=161160 The new entity will have Lloyd's as the capacity provider and will allow the broker to grow its strata portfolio which already includes brands SUU and Longitude. 

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Australian broker AUB Group has rolled out its third commercial strata managing general agent (MGA) Rubix Underwriting to strengthen its agency services, according to a broker press release. 
Lloyd’s ...

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]]> AUB logs 32.5% growth in FY 2024 after-tax profit on margin expansion, acquisitions https://insuranceasianews.com/aub-logs-32-5-growth-in-fy-2024-after-tax-profit-on-margin-expansion-acquisitions/ Wed, 21 Aug 2024 04:10:26 +0000 https://insuranceasianews.com/?p=160917 The Sydney-based broker's chair David Clarke will retire in October with current director Peter Harmer set to assume the role.

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Australian broker AUB Group saw underlying net profit after-tax (NPAT) for the full year ended June 2024 (FY2024) rise 32.5% to AU$171 million (US$115.3 million) from AU$129.1 million a year ago,  bol...

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]]> AUB-owned Tysers Singapore ropes in Surabhi Mehrotra as associate director, reinsurance https://insuranceasianews.com/aub-owned-tysers-singapore-ropes-in-surabhi-mehrotra-as-associate-director-reinsurance/ Tue, 16 Jul 2024 07:24:44 +0000 https://insuranceasianews.com/?p=158207 Mehrotra joins from JB Boda, where she spent almost a decade as assistant general manager of treaty and facultative reinsurance broking. 

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Tysers Singapore has appointed Surabhi Mehrotra as associate director, reinsurance, as the specialist broker continues to expand its global reinsurance services, according to a company announcement on...

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]]> AUB targets New Zealand expansion through equity partnership with Northco https://insuranceasianews.com/aub-targets-new-zealand-expansion-through-equity-partnership-with-northco/ Tue, 16 Jul 2024 03:09:03 +0000 https://insuranceasianews.com/?p=158171 Northco’s management will retain a significant shareholding "to continue to adopt an entrepreneurial focus for the business".

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Australian broker AUB Group has picked up an equity stake in New Zealand-based Northco Insurance Brokers, according to an AUB Group announcement on LinkedIn.
Northco’s management will retain a signifi...

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]]> AUB picks up 40% stake in UK retail broking network Momentum https://insuranceasianews.com/aub-picks-up-40-stake-in-uk-retail-broking-network-momentum/ Mon, 10 Jun 2024 13:42:59 +0000 https://insuranceasianews.com/?p=155604 The deal gives the Australian intermediary access to an authorised representative network with over 100 partners placing more than US$114m in premium.

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Australian broker AUB Group has agreed to acquire a 40% equity stake in Momentum Broker Solutions, an authorised representative network based in the UK.
For AUB, the investment is a step in expanding ...

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]]> AUB completes US$132m placement for Pacific Indemnity deal https://insuranceasianews.com/aub-completes-us132m-placement-for-pacific-indemnity-deal/ Thu, 23 May 2024 02:39:32 +0000 https://insuranceasianews.com/?p=154412 The Australian broker issued 7.3m new shares in a private placement primarily to fund the Pacific Indemnity acquisition, with excess funds allocated for other M&A deals in the pipeline.

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AUB Group has raised AU$200 million (US$132 million) through a share placement to fund its acquisition of underwriting agency Pacific Indemnity and future acquisitions, it said in a stock exchange fil...

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]]> AUB to acquire financial lines specialist MGA Pacific Indemnity https://insuranceasianews.com/aub-to-acquire-financial-lines-specialist-mga-pacific-indemnity/ Wed, 22 May 2024 03:33:37 +0000 https://insuranceasianews.com/?p=154357 The Australian broking group will pay up to US$93.4m for 70% of the underwriting agency and it has launched a US$133m private placement to fund the deal.

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Australian broking group AUB has entered into an agreement to buy 70% of specialty underwriting agency Pacific Indemnity for up to AU$140 million (US$93.4 million), as it seeks to bolster its financia...

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]]> AUB lifts FY 2024 net profit guidance to top-end of earlier range https://insuranceasianews.com/aub-lifts-fy-2024-net-profit-guidance-to-top-end-of-earlier-range/ Tue, 07 May 2024 09:25:58 +0000 https://insuranceasianews.com/?p=153492 The Australian broker's second forecast upgrade this year is based on the assumption that the profit split for the first and second half would be in-line with the usual seasonality trend and renewal cycle.

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Australian broker AUB Group said it is forecasting its underlying net profit after tax (UNPAT) for the full year of 2024 will be towards the top-end of its previously disclosed range, at AU$161 millio...

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]]> AUB upgrades earnings guidance as H1 FY 2024 pre-tax profits grow 18.3% https://insuranceasianews.com/aub-upgrades-earnings-guidance-as-h1-fy-2024-pre-tax-profits-grow-18-3/ Tue, 20 Feb 2024 03:41:18 +0000 https://insuranceasianews.com/?p=146680 A doubling of underlying net profit after tax in its underwriting agencies and New Zealand businesses bolstered the Australian broker's results.

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Australian broker AUB Group’s underlying pre-tax profit grew 18.3% to AU$59.1 million (US$38.5 million) in the first half of the current financial year (ended December 2023) bolstered by a doubling of...

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]]> AUB Group bolsters M&A war chest with US$560m debt deal https://insuranceasianews.com/aub-group-bolsters-ma-war-chest-with-us560m-debt-deal/ Thu, 25 Jan 2024 07:16:47 +0000 https://insuranceasianews.com/?p=144839 The refinancing and new loan give US$171m of available liquidity to the Australian broker providing financial flexibility ‘to capitalise on organic and inorganic growth’.

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Australian broking group AUB Group (AUB) has bolstered its M&A war chest with an AU$850 million (US$560 million) debt facility, which includes a AU$675 million syndicated debt facility for refinan...

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