Written on 10 June, 2024

• AUB Group Limited (AUB) and Momentum Broker Solutions (Momentum) today announced that AUB has entered into an agreement to acquire a 40% equity stake in Momentum, a leading Authorised Representative network based in the UK
• For AUB, the investment is a key step in expanding its existing Retail broking footprint in the UK. AUB will leverage its experience and capabilities operating market-leading Delegated Authority and Authorised Representative Networks in Australia and New Zealand into the UK market, for the benefit of Momentum’s broking partners and clients
• For Momentum, the partnership allows the business to retain its independence and entrepreneurial drive, whilst providing access to unparalleled expertise and the ability to invest in further growth
• The transaction is subject to regulatory approval

About Momentum Broker Solutions

Established in 2010, Momentum are the market-leading AR network in the UK with over 100 Authorised Representative (AR) partners responsible for placement of over £90 million in premium in the market. The business has become the go-to network for start-ups and small independent brokers in the UK, and achieved double-digit growth every year since inception.

Momentum is run by a group of experienced, entrepreneurial professionals with a wealth of industry knowledge,  significant investments in people and systems, financial alignment with partners and proven track records in running successful insurance brokerages. The business has assisted in  increasing the appeal and appreciation of the benefits that AR Networks provide for the growth and development of the independent broking sector, and notably, as the business model of choice for those starting a commercial insurance brokerage, providing effective distribution for the insurance market and support services.

Commenting on today’s announcement, Howard Pepper, Founder & Managing Director, Momentum Broker Solutions said:

“We are delighted to advise that AUB Group,  a leading player in the Australian and New Zealand AR marketplace, are making an equity investment in Momentum. AUB is one of the fastest growing global insurance broking networks with a broad range of investments in all sectors of the industry. In developing Momentum, we took a lead from the success of the model in other territories, in particular Australia. The size and success of the marketplace in Australia illustrates the scope of the opportunity and we are incredibly proud to be working with AUB as an investor and excited by the opportunities this will provide for us and our partners. A partnership between AUB and Momentum aligns to our strategic agenda, given AUB’s model enables us to retain our independence whilst providing access to unparalleled expertise and expanding our ability to invest in the further growth of Momentum and our AR partners.” 

About AUB Group

AUB Group Limited (ASX: AUB) is listed on the Australian Stock Exchange and is one of the top 20 largest global Insurance Broking Groups. Over 5,000 team members work with ~950,000 clients to place ~AUD 10bn in insurance premiums.  The AUB Group portfolio of businesses comprises retail & wholesale insurance brokers and underwriting agencies operating in ~570 locations globally including a portfolio of market-leading networks such as Austbrokers, NZbrokers, Insurance Advisernet and the MGA Group.

Commenting on today’s announcement, Mike Emmett, AUB Group CEO and Managing Director said:

“We are delighted to announce our partnership with Momentum, a high performing business with an excellent management team which has delivered impressive growth to date. Our investment in Momentum is a foundational step to enable AUB’s strategy to build scale and capability in the UK Retail Broking market, a segment of significant interest given our experience and capabilities in this area in the Australian and New Zealand markets. I am pleased to welcome Howard and the Momentum team to the AUB family, and look forward to working with them as they continue to enhance their value proposition for brokers and clients and continue their exciting progress.”

For further information, contact:

• Dan Judson, Momentum Marketing Team at [email protected]
• Howard Pepper, Momentum Managing Director at [email protected]
• Gurbaj Pawar, AUB Group Head of Strategy at [email protected]