AUB Group reaffirms FY guidance of double-digit profit growth

The news: Insurance broking and underwriting network AUB Group reaffirmed its full-year guidance, with "strong momentum" from FY24 continuing into the first quarter of FY25.

The numbers: AUB anticipates full-year underlying NPAT of between $190 million and $200 million, representing year-on-year growth of between 11.1% and 16.9%.

The group expects a split of profits of 39% in the first half of the year and 61% in the second half.

In August, AUB's reported year-on-year underlying NPAT growth of 32.5%.

The context: AUB, which manages over $10 billion in premiums on behalf of its clients worldwide, said that FY25 will see an increased focus on building out its UK retail capability, while optimising recent acquisitions including insurance brokers Tysers and underwriting agency Pacific Indemnity.