• Continued delivery of strong UNPAT growth and margin expansion
• Strong Underlying PBT growth in BizCover, Australian Broking, and Agencies
• Disappointing half for New Zealand, improvements underway

AUB Group reported strong 1H26 results, with UNPAT growth of 13.9% to $90.4mn and a 190bps margin expansion to 33.9%. The International Division delivered Underlying PBT Growth of 29% on 1H25 with margin expansion of 510bps, and the company's more recent acquisitions showed pleasing momentum. BizCover, Australian Broking, and Agencies also recorded strong Underlying PBT growth of 23.3%, 11.4%, and 10% respectively. However, the New Zealand business had a disappointing half, with weakness in the corporate market and an unsuccessful market share initiative impacting results. Improvements are underway, including a restructure of the NZbrokers Network and accelerated portfolio optimisation. The company announced the acquisition of Prestige, a significant UK broker and underwriting agency business, on 27 January 2026, and made around 30 smaller equity investments in 1H26. The FY26 UNPAT range has been upgraded to AUD 220mn - 230mn to include Prestige and step-ups in AUB 360 and Pacific Indemnity, representing growth of 9.9% to 14.9% over FY25.

FY26 UNPAT range upgraded to AUD 220mn - 230mn to include Prestige (assumed to settle no later than 1 May 2026) and step-ups in AUB 360 and Pacific Indemnity, representing growth of 9.9% to 14.9% over FY25.