AUB completes Tysers buy
AUB Group has completed the £500m purchase of Lloyd’s wholesale broker Tysers from private equity house Odyssey Investment Partners.
AUB will pay a further £100m in two years’ time if Tysers hits agreed revenue growth targets.
The details of the deal were first revealed in May after takeover talks were confirmed the month before.
Sydney-headquartered AUB consists of insurance brokers and underwriting agencies operating in around 520 locations across Australia and New Zealand.
In May AUB flagged that London-based specialist international insurance broker Tysers is the sixth largest wholesale broker in the Lloyd’s
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