AUB Group is focused on growing Victorian brokerage Adroit Insurance & Risk after agreeing to acquire a majority stake in the business.

As reported by our Daily news service, AUB’s Divisional CEO National Partners and Acquisitions Fabian Pasquini has been appointed Adroit MD, effective December 1.

At the same time, Divisional CEO Austbrokers Network Nigel Thomas has taken an expanded leadership role across the Austbrokers division. 

AUB says Adroit shareholders Andrew Locke and Brendan Peck decided to step back from full-time leadership for personal reasons, and to sell their shareholding.

They will continue working with Adroit for at least two years, and there are other shareholders within the business.

AUB Group CEO and MD Mark Searles told insuranceNEWS.com.au Adroit has made impressive progress under Mr Locke and Mr Peck.

“We will aim to continue that growth trajectory, and opportunities in the Victorian market continue to increase.”

Mr Searles says further acquisitions are likely.

“Fundamentally, we use organic growth as our growth engine, but we are always on the lookout for acquisition opportunities, and we have a very strong pipeline at the moment.”

Adroit represents $100 million in gross written premium and operates 12 branches, servicing 25,000 customers across regional and metropolitan Victoria and NSW. It offers tailored solutions across business, personal and life insurance.

“AUB Group’s intent is to be the leading provider of risk management, advice and solutions to clients,” Mr Searles said.

“Adroit’s focus on acting first and foremost as a specialist risk adviser to its clients, alongside its strong fundamental of partnerships, make this move a logical decision.”

AUB says it has invested $170 million in successful acquisitions over the past five years.