The expansion is fueled by several factors, including elevated claims, medical inflation, an ageing population, and ongoing infrastructure investments.
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.
This focus on catastrophe risk is also expected to fuel market expansion, with GWP forecast to grow at a CAGR of 11.5% through 2030 amid rising losses.
