Australia’s AUB Group announced it will acquire UK insurance broker and underwriting platform Prestige for A$432 million ($298.7 million). This move marks a significant expansion into the UK market for AUB, as it aims to bolster its presence in the UK insurance sector. The acquisition includes 95.9% of Prestige, which boasts over 300 million pounds in gross written premium, valuing the business at 12.9 times calendar 2025 EBITDA before synergies.

This deal will boost AUB’s UK retail gross written premium to approximately 720 million pounds, marking its entry into the UK managing general agent segment. To fund this acquisition, AUB launched a A$400 million institutional placement and secured an additional A$200 million debt facility from Macquarie Bank. The company reaffirmed its full-year 2026 profit guidance, indicating that the deal is expected to be earnings-neutral before synergies and accretive thereafter.

The transaction is subject to regulatory approval and is anticipated to complete before June 30, 2026. This strategic move by AUB reflects its ambition to diversify and grow its business in the UK market, a key region for international insurance expansion. Investors will be watching closely to see how this acquisition impacts AUB’s financial performance and market position in the coming quarters.

For business leaders, this acquisition underscores the ongoing consolidation in the global insurance sector. As companies seek to expand their market reach and enhance their service offerings, similar strategic moves are likely to follow. The success of this deal could set a precedent for future acquisitions in the industry, influencing how other players approach market expansion.