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AUB Group Ltd AUB

Morningstar’s Analysis

Currency in AUD
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Economic Moat


Capital Allocation


AUB Getting on with ‘Bizness’ but Growth Prospects now Captured in the Share Price

Nathan Zaia Equity Analyst

Analyst Note

| Nathan Zaia |

We maintain our fair value estimate of AUD 19.50 per share and earnings forecast for narrow-moat-rated AUB Group ahead of its full-year result release in August. We like the business and outlook, but with shares up almost 25% since our initiation in March, we think the upside is now more than priced in.

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Company Profile

Business Description

AUB Group is the second-largest general insurance broker network in Australia and New Zealand. It has an ownership in over 70 brokerage businesses, which collectively write over AUD 3 billion in premiums. It also owns equity stakes in 30 underwriting agencies. AUB derives revenue from commissions (from insurers, ultimately paid for by AUB’s customers) based on gross written premium, or GWP, from agencies it owns, and a share of profits from associates and joint ventures. GWP is split between personal (6%), small to medium enterprises (68%), and corporates (26%).

141 Walker Street, Level 14, North Sydney
Sydney, NSW, 2060, Australia
T +61 299352222
Sector Financial Services
Industry Insurance Brokers
Most Recent Earnings
Fiscal Year End Jun 30, 2021
Stock Type

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