Tysers contributes AUD 97m to AUB Group’s FY 2024 underlying profit

Australian insurance broker AUB Group has released its 2024 financial year results, reporting that Tysers contributed AUD 96.8 million to its underlying pre-tax profit.

AUB Group acquired Tysers from Odyssey Investment Partners in September of 2022, with FY 2024 being the first full year of ownership.

According to the firm, Tysers’ revenue and profit are on track, positioning it for future growth and margin expansion.

AUB Group reported a total underlying net profit after tax of AUD 171 million for FY 2024, up from AUD 129.1 million in FY 2023.

Meanwhile, the reported net profit after tax in FY 2024 was AUD 137.1 million, up from AUD 65.3 million.

Looking ahead, AUB Group placed its FY 2025 underlying net profit after tax guidance in the range of AUD 190 million – AUD 200 million, representing growth of 11.1% – 16.9% over FY 2024.

AUB Group CEO and Managing Director, Michael Emmett, commented, “FY 2024 was a milestone year for AUB Group. The first full year of Tysers ownership, bolstered by other international investments, exceptional growth in our managing agencies division, and continued strong performance in Australia and New Zealand, all contributed to outstanding results for our shareholders.

“This success was further highlighted by our recognition by AM Best as one of the top 20 leading Insurance Broking Groups in the world.

“In the past few months, we have rapidly expanded our scale and presence as a retail broker in the UK so that we can leverage our wholesale capabilities and build on our successful retail experiences in Australia and New Zealand.

“With our talented team and diverse portfolio of businesses, we are well-positioned to capitalise on the many opportunities that lie ahead and are truly excited about what the future holds for AUB Group.”

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