Insurance Advisernet’s authorised representative (AR) network members will have the option of a shared equity model through a new joint venture with AUB Group.

As reported in a Breaking News bulletin last week, the Insurance Advisernet Equity Partners venture will be in a position to acquire non-controlling shareholdings in the AR network’s members in Australia and New Zealand.

The arrangement will assist ARs with succession plans, without them having to look outside the group, and can release capital for growth.

“We have been pleased with the positive response so far,” Insurance Advisernet MD Shaun Standfield told insuranceNEWS.com.au.

“We are looking to employ a general manager to oversee this area of the business and then we will work through the options and the execution of our equity partnership model.”

Insurance Advisernet, which is 50% owned by AUB, has more than 200 AR/broker members in Australia and New Zealand and its practices have 85,000 clients generating more than $650 million in premium.

Founder and Chairman Ian Carr says the network has been growing at more than 20% a year.

“Over the years, we have assisted many practices to commence their own business and flourish, and now we can assist even further by providing the complete ‘cradle to grave’ solution,” he said.

AUB CEO Mike Emmett says it is hoped the benefits offered by the venture will attract additional ARs and brokers to become members of Insurance Advisernet.