AUB takes 40% stake in Momentum
Tysers owner AUB Group has signed up to buy a 40% equity stake in appointed representatives network Momentum Broker Solutions, subject to regulatory approval.
According to AUB, the investment is a key step in expanding its existing retail broking footprint in the UK.
It claimed it would bring its experience and capabilities of running delegated authority and authorised representative networks in Australia and New Zealand to the UK market, “for the benefit of Momentum’s broking partners and clients”.
Australian Stock Exchange listed AUB’s team of more than 5000 people places A$10bn (£5.19bn) in insurance premiums.
The partnership will allow Momentum to
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