Austbrokers Holdings (AUB)

Shares / Stock Code

AUB

Stock Exchange / Sharemarket

Australian Securities Exchange

Austbrokers Holdings Limited is involved in the business of insurance broking and it is also offering financial products and services from several years. It was listed on 16 November 2005 in the asx with the ticker symbol AUB. The company invests in insurance brokers and underwriting agencies. Insurance broking is the core business of the consolidated entity. Network members also distribute ancillary investment products and conduct underwriting agency businesses. The brokers derive the bulk of their revenue from a mixture of commission from underwriters and fees charged to clients. There are currently 39 brokers in the AUB network across Australia. AUB acquires equity interests in insurance brokers throughout Australia. The AUB 'owner-driver' model involves brokers retaining the day to day management of the business along with a significant ownership stake. AUB's model is based on the retention of individual broker independence, while still enjoying the synergies of being part of a larger group. AUB supports its member firms with strategic advice, IT services, marketing assistance and risk management and compliance systems and services

Austbrokers Holdings Limited History

AUB was established in 1985 to give individual general insurance brokers the opportunity to enjoy the benefits of a larger group, yet still maintain operational independence. AUB listed on the ASX on 16 November 2005. In FY08 AUB acquired 50% of Strathearn Insurance Brokers and 50% of Rivers Insurance Brokers.

Austbrokers significant growth has been largely achieved through the acquisition of equity in selected insurance broking and financial services businesses that allows individual brokers to retain a significant interest in their own broking business. This encourages initiative and dedication, allowing the businesses to preserve their local identity and management. This balance allows the individual firms to enjoy all the advantages of being part of a major group (strategic and administrative support and scale benefits), yet still maintain the best business incentive there is - being one's own boss. With a total turnover of over $1.2 billion in general insurance premiums, and over $200 million in funds under management the Austbrokers Network ranks within the top general insurance broking groups in Australia. Austbrokers believes its “owner driver” model gives it maximum potential in the financial marketplace of the future.”

Austbrokers Holdings (AUB) Products and Services

  • Insurance broking businesses
  • Financial products and services

Austbrokers Holdings (AUB) Locations and Subsidiaries

Austbrokers Holdings Head office
111 Pacific Highway, Level 21,
NORTH SYDNEY
Phone: (02) 9935 2222
Fax: (02) 9954 1724

Austbrokers Holdings (AUB) Share Price

Submitted by ASX Listed Company on 27 February, 2010 - 05:54

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