AUB Group said its board viewed the A$45 per share offer as fair but confirmed talks ended after PE firms declined to make a binding offer at the proposed valuation.
November events added up to A$510m (US$332m) in estimated losses, with nat cat events depleting two-thirds of insurer's natural hazard allowance less than five months into the year.
Mackinnon is set to join the business in H1 2026, pending regulatory approval, following his tenure as Lloyd’s Regional Director for APAC, Middle East, and Africa.
Australia's Federal Court found that thousands of Cbus members faced lengthy delays in receiving death and disability benefits, with some claims remaining unresolved for over a year.
