AUB Group is signalling potential international expansion, looking beyond immediate priorities, saying its business model would work well in countries outside its current markets.

“While the current focus is on Australia and New Zealand, the AUB business model is well-suited to multiple countries worldwide,” CEO Mike Emmett told the annual meeting last week. “The careful and considered expansion to new territories is anticipated in future.”

Mr Emmett says the group this financial year will continue to extend and improve the agencies division, further optimise its network of businesses, execute on a pipeline of acquisitions and further extend technology solutions.

AUB reaffirmed its full-year earnings guidance, with momentum from last year continuing into the first quarter.

Mr Emmett says AUB has demonstrated resilience during a period of “extraordinary ups and downs” over the past year amid the pandemic, and recent freedoms and re-opening of borders is increasing economic optimism.

Mr Emmett says in the agencies division a new operating structure, the acquisition of 360 Underwriting and a rollout of the new Sentinel Agency system are all contributing to performance improvements and momentum is expected to build this financial year.

“Financial results in New Zealand are expected to improve in early [fiscal 2023] as the business is still in the early stages of transformation with a large system implementation currently underway,” he said.