AUB Group to Acquire UK Broker Prestige in $432m Deal, Backed by Equity Raising and New Debt

AUB Group ( (AU:AUB) ) just unveiled an update.

AUB Group has agreed to acquire 95.9% of UK-based PIHL Holdings Limited, known as Prestige, for AUD 432 million, in a deal that will materially expand its UK retail insurance footprint and mark its entry into the UK MGA segment. Prestige, a diversified insurance broking and underwriting platform with over GBP 300 million in gross written premium and around 650 staff across the UK and Ireland, will boost AUB’s UK retail gross written premium to more than GBP 720 million and become the core equity ownership platform for its UK retail broking and MGA operations. The transaction, valued at 12.9 times CY25 EBITDA before synergies and 10.0 times including at least AUD 10 million in anticipated cost synergies by FY27, is expected to deliver operating efficiencies and cross-selling benefits with AUB’s existing Tysers wholesale and retail businesses, subject to regulatory approval before 30 June 2026. To fund the acquisition and ongoing deal activity, AUB has launched a fully underwritten AUD 400 million institutional placement, will offer a AUD 40 million share purchase plan, and has secured an additional AUD 200 million debt facility from Macquarie Bank on improved terms, alongside completing approximately AUD 200 million of business-as-usual M&A in 1H26, including step-ups in Pacific Indemnity and AUB 360. The company also issued a trading update, guiding 1H26 underlying net profit after tax to AUD 90–91 million and reaffirming its FY26 profit outlook, excluding the impact of Prestige and recent step-up acquisitions, underscoring management’s confidence in underlying performance while it accelerates its international expansion strategy.

The most recent analyst rating on (AU:AUB) stock is a Hold with a A$33.70 price target. To see the full list of analyst forecasts on AUB Group stock, see the AU:AUB Stock Forecast page.

More about AUB Group

AUB Group Limited is an insurance broking and underwriting group with a growing presence in the UK market, focused on retail insurance, managing general agent (MGA) platforms and technology-enabled distribution. The company pursues a strategy of scaling through acquisitions and step-ups in existing holdings, leveraging broking, MGA and technology capabilities to expand gross written premium and deepen its position across commercial, specialty and personal lines insurance segments.

Average Trading Volume: 433,079

Technical Sentiment Signal: Buy

Current Market Cap: A$3.72B

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