AUB completes Prestige deal
AUB Group has completed its acquisition of 95.9% of Prestige Insurance Holdings.
The deal, first announced on 27 January, was valued at A$432m (£219m).
It was given the green light by the Financial Conduct Authority in February and was expected to complete before 1 May.
Across broking and managing general agents, it will create a £720m gross written premium UK retail business, with Prestige accounting for £310m of the pot.
When AUB’s takeover was announced, Prestige CEO Trevor Shaw hailed it as a “landmark” moment for his business.
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