Australia’s AUB Group has made a significant move to reinforce its international presence by acquiring an 80% equity stake in the Movo Group of Companies, marking its continued expansion into the UK market.
This acquisition, which awaits regulatory approval, includes Movo’s Authorised Representative (AR) network, equity broking group Movo Insurance Brokers, and the insurance technology platform Durell Software.
Movo Insurance Brokers operates across 11 locations in the UK, providing a network of independent, equity-owned brokers specialising in commercial insurance products. The Movo Partnership’s AR network, comprising over 100 brokers, manages premiums exceeding £110m (US$143.1m).
Meanwhile, Durell Software contributes to the group’s technological capabilities with its proprietary policy administration solutions and a web application designed to enhance insurance and wealth management operations.
AUB Group CEO and managing director, Mike Emmett, expressed enthusiasm about the deal in a press release, emphasising the synergy between AUB’s existing expertise in Australia and New Zealand and the opportunities presented by the UK market.
“This strategic investment is aligned with AUB Group’s objective to expand our presence in the UK retail broking market, leveraging our extensive expertise and capabilities developed in Australia and New Zealand,” Emmett said.
For Movo, the partnership with AUB Group promises to enhance its brokers’ offerings while preserving its independence and entrepreneurial culture.
Lea Cheesbrough, CEO of Movo Partnership, noted that the alignment in business models and the shared emphasis on social impact made AUB Group an ideal partner. She said: “This partnership heralds an exciting new phase as we advance our plans to further enhance our network’s offerings and service value proposition, for the ultimate benefits of our brokers and their clients. I would also like to extend my heartfelt thanks to our exceptional staff, whose dedication has been instrumental to Movo’s success.”
This deal follows AUB Group’s earlier investment in June 2024, when it acquired a 40% stake in Momentum Broker Solutions, another UK-based AR network.
