AUB Group has flagged that it may explore international opportunities following an improvement program over the past two years that has leveraged scale and created a simpler business.

CEO Mike Emmett says a focus on strategically aligned and disciplined acquisitions has also continued as the group takes a “highly selective” approach to opportunities and carefully deploys capital.

“While the current focus is on Australia and New Zealand, the AUB business model is well-suited to multiple countries worldwide,” Mr Emmett told the annual meeting today. “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.

Transactions so far have included brokerage acquisitions and the purchase of software business iaAnyware, while The Insurance Alliance, launched in April, has entered into a partnership with newly established independent broker network, the Broker Co-op.

“Earlier today BizCover launched a new direct SME Insurance platform in South Africa,” Mr Emmett told the meeting.

Bi-me, an acronym for Business Insurance Made Easy, is a partnership with Hollard and Discovery that uses BizCover technology to target the needs of small businesses. AUB acquired a 40% stake in BizCover last year.

AUB today 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.

“[This financial year] is already looking to be brighter and freer, with recent freedoms and re-opening borders, bringing much-needed respite and a resultant increase in economic optimism which we anticipate will benefit our network of businesses,” he said.