AUB Group: Everything you need to know
Types of services: Broker cluster group
Broking businesses: 77+
GWP (across all broking businesses): $2.8 billion
Offices: Sydney, Newcastle, Auckland
AUB Group is a broker cluster group founded in 1985, which currently partners with network groups and insurance brokerages across Australia and New Zealand. It looks to foster “mutually beneficial partnerships” with a broad spectrum of industry players, and it also counts a number of insurers, funders and underwriters among its partners.
NZbrokers is currently AUB Group’s key broking network partner in New Zealand, and its other insurance broking partners include BrokerWeb Risk Services, Commercial and Rural Insurance Brokers, Dawson Insurance, Insurance Brokers Alliance and Runacres Insurance.
AUB Group provides its partners with shared services, an operational and technology team and underwriting and risk consulting services, all designed to give its brokers an “operational edge” and free them up to spend more time attending to their clients.
It has partnered with SURA, a group of specialised agencies which underwrite and distribute niche insurance products via 19 agencies, and each of SURA’s underwriters is a specialist in a particular insurance product or sector.
AUB also has a risk services division which is made up of three businesses. This division specialises in loss adjustment, investigations, claims management, legal support and rehabilitation services.
The group’s New Zealand branch was set up in 2015, and is actively partnering with Kiwi businesses which align with its ‘total risk solutions’ strategy.
AUB Group in the news
1985: AUB Group is formed in Australia
2015: AUB Group officially opens up its New Zealand division in Auckland and acquires Runacres and Associates – one of New Zealand’s largest brokerages – from insurance giant IAG
2015: AUB Group sells 50% of its shareholding in Strathearn Insurance group to Arthur J Gallagher
2016: AUB Group reiterates its commitment to New Zealand growth, and is now the third largest broking entity in the country
2016: AUB Group acquires a 50% shareholding in Dawson Insurance Brokers (Rotorua) in combination with its acquisition partner, BrokerWeb Risk Services
2017: AUB Group announces a 7.5% increase in adjusted net profit after tax for FY16, with the New Zealand business seeing a $2.6 million increase in profit
2017: AUB Group acquires another New Zealand brokerage, Lowe Schollum & Jones
2019: AUB Group acquires the remaining 50% of BrokerWeb Risk Services, strengthening its New Zealand hold yet further
Key People (as of 2019)
Keith McIvor – Managing Director (New Zealand)
McIvor has been a managing director with AUB Group for over six years, having previously spent time as the CEO of OAMPS Insurance brokers. He also spent 18 years at New Zealand brokerage Crombie Lockwood, starting out as a branch director before being appointed executive general manager in 2003. He started out as chief broking officer in Australia with AUB before transitioning to the New Zealand branch as that part of the business developed.
Mike Emmett – CEO and Managing Director
Emmett’s diverse insurance career has taken him across Australia, the UK and South Africa, and he spent time as the Group CEO of travel insurer Cover-More before joining AUB Group. He also held senior roles at QBE Australia, acting as group executive of operations, and at EY, where he led the financial services advisory business.
Mark Shanahan – Chief Financial Officer
Shanahan has over 30 years’ experience in the financial services sector, and previously held CFO and COO roles across Europe, Asia and Australia. He spent 14 years at Macquarie Bank, acting as CFO of the Asia-Pacific region for nine years. He is a chartered accountant qualified in South Africa and Australia, and is a graduate of the Australian Institute of Company Directors.