AUB has appointed Gurbaj Pawar as group chief strategy officer and says he will join the executive team, as it flags a continued focus on UK expansion.

“Gurbaj has been an important part of the transformation of AUB Group over the past five years and I’m pleased to be able to recognise his contribution and potential with this promotion,” CEO Mike Emmett said at the annual general meeting last Thursday. 

Mr Pawar previously worked at Deloitte, QBE, Emerge Capital and Accenture, according to his LinkedIn page. 

AUB reaffirmed its full-year guidance for underlying net profit after tax of $190-$200 million, representing growth of 11.1%-16.9% on the previous period. The profit split is expected to be 39% in the first half and 61% in the second. 

The company, which says Australian broking remains the engine room of the group, bought UK-based Tysers in September 2022. It has created an AUB international division that includes Tysers, UK retail operations and the Miami-based Mexbrit/Forte brokerage and managing general agency.

“Looking ahead, FY25 will see an increased focus on building out our UK retail capability,” chairman David Clarke said. “We also remain committed to enhancing our strategic investments, optimising Tysers’ wholesale broking operations, and driving further growth across our key markets.”

Mr Clarke told shareholders AUB’s strata practices are transparent and in line with the code of practice after he was asked if the company has examined its operations to ensure no improper remuneration practices exist. 

The company has made “extensive inquiries” he said, and arrangements are “completely transparent” in the case of one broker that is a majority owner of a strata management business that facilitates broking of insurance with clients.

Mr Clarke said AUB was not contacted by the Four Corners program on strata and the company has a much smaller market presence in strata agencies and strata broking than Steadfast, which was a focus of the ABC report.

The meeting marked Mr Clarke’s retirement as chairman, with Peter Harmer taking over in a previously announced change.