Mike Emmett

Insurance Advisernet and AUB Group (ASX:AUB) has announced a new jointly-owned venture, Insurance Advisernet Equity Partners.

The purpose of the new venture is to acquire a non-controlling shareholding in select members of Insurance Advisernet, a network of over 200 authorised representative/broker members in Australia and New Zealand.

Ian Carr, Founder and Chairman of Insurance Advisernet said, “Our network has been growing at over 20 percent per annum and our practices now have 85,000 clients generating in excess of $650 million of premiums. Over the years, we have assisted many practices to commence their own businesses and flourish, and now we can assist even further by providing the complete ‘cradle to grave’ solution.”

Discussing the initiative, Mike Emmett, CEO and Managing Director, AUB Group said, “We are very pleased to announce this new venture, which is a natural and exciting extension of our 13 year partnership with Insurance Advisernet. We believe that this new venture will enable current Insurance Advisernet members to accelerate their growth and facilitate long-term succession. We also hope that the benefits offered by this new venture will attract additional authorised representatives and brokers in the market to become members of Insurance Advisernet.”

The venture already has capital available for investment and will be appointing a new General Manager to work with Insurance Advisernet and assess and support interested members.

The post Insurance Advisernet and AUB Group announce new venture appeared first on AdviserVoice.

Discussing the appointment, AUB Group Chair David Clarke said, “We are delighted to have secured someone of Mike’s calibre, with his strong experience in diversified growth and distributed business models. Mike’s understanding of the full suite of insurance services aligns well with the Group’s successful ‘total risk solutions’ strategy, as well as our intention to be the leading provider of risk management, advice and solutions to clients. The Board is confident his skills will enable the Group to maintain strategic momentum, and will help orient the Group to the future needs of clients while continuing to deliver shareholder outcomes.

“We thank outgoing CEO Mark Searles not only for his enormous contribution to AUB Group, but also for his continued support in this succession process, which has enabled us to conduct a thorough search process and plan for a smooth leadership transition.”

Previously group chief executive of travel insurer Cover-More Group, Mr Emmett has held executive positions at QBE, EY, Morse, IBM, Accenture and PwC.

Outgoing CEO and Managing Director Mark Searles, who announced in August 2018 his intention to step down with a view to developing a non-executive director career, will move to an advisory role until October 2019.

The post AUB Group announces CEO succession appeared first on AdviserVoice.