AUB Group has posted a strong full-year result, as CEO and MD Mark Searles prepares to leave the business.

As reported in a Breaking News bulletin this morning, Mr Searles intends to leave in October next year to pursue a non-executive career.

Over six years he has worked to transform AUB into a “total risk solutions” group, and told insuranceNEWS.com.au he is delighted to see the strategy reaping rewards.

Adjusted net profit after tax was up 10.3% to $44.6 million, with growth across all segments and organic expansion the key driver.

Profit contribution from Australian broking was up 8.7%, with commercial rates increasing by low mid-single digits. New Zealand broking profit increased 18.5%, with four new members joining the NZbrokers network.

Risk services surpassed expectations to record a 9% increase in revenue, and underwriting agencies’ profit contribution gained 11%.

Mr Searles told insuranceNEWS.com.au he has worked “long and hard” with his team to reshape the group.

“Six or seven years ago the growth engine was buying insurance brokers in Australia, now it is organic growth,” he said.

“Our New Zealand presence was not there three-and-a-half years ago, neither was our risk services business.

“Our eggs were all in one basket and, with the recent soft market, had we stayed doing just that I don’t think I would be talking to you now.

“I’m very pleased and proud of what we have achieved.”

Mr Searles says he will play a key role in finding his successor over the next 14 months.

When he leaves he will spend more time in the UK, where he has family and his sons attend university, but he is determined to play a part in the Australian industry.

“I hope to have a multicontinent life. I want to think about how I can use my skills and knowledge of the Australian market along with a UK presence.”

Mr Searles joined AUB in January 2013, having previously been headhunted by CGU to come to Australia as its chief commercial officer and GM. Before that he worked in senior roles with Zurich in the UK.

“I’m delighted to have spent these years in Australia,” he said. “It is a fantastic place for people who want to get ahead and make a difference.”