Latest Insurance Broking Sector News

AUB Group Limited has announced the acquisition of a 95.9% stake in UK-based PIHL Holdings Limited (Prestige) for AUD 432 million, significantly expanding its UK retail insurance broking footprint. To fund this strategic move, AUB is launching a fully underwritten AUD 400 million institutional placement alongside a share purchase plan.

Steadfast Group's CEO Robert Kelly AM has temporarily stepped aside while an external investigation into a workplace complaint is underway, with Tim Mathieson appointed as Acting CEO.

AUB Group has received a revised $45 per share acquisition proposal from EQT, prompting the board to grant exclusivity for due diligence. The deal remains non-binding and subject to multiple conditions.