AUB – further interest in KJ Risk

Austbrokers Corporate Pty Ltd (trading as AUC), a directly and wholly-owned subsidiary of AUB Group Limited (AUB), proposes to acquire an additional 43% of the issued share capital in KJ Risk Group Pty Ltd (KJ Risk) by way of a purchase of shares from the existing majority shareholder, Niven Industries Pty Ltd, as trustee for the Niven Industries Trust (Niven Industries) (the Acquisition).

As part of the transaction, AUB Group Limited will transfer its existing 49% interest in KJ Risk to AUC. On completion, AUC will hold 92% of the issued share capital in KJ Risk, with the balance retained by Niven Industries.

AUC is a wholly owned subsidiary of AUB Group Limited (ASX: AUB), which itself is an ASX200 global insurance broking group with a diversified portfolio spanning General and Specialist Retail Brokers, Authorised Representative and Broking Networks, Managing General Agents and Underwriting Agencies, Wholesale Brokers, InsurTech platforms, and specialist Claims and Loss Adjustment services. Operating from approximately 580 locations, ~6,000 people support around 1.2 million clients and place more than AUD 11 billion in premiums with local and international insurers each year.

KJ Risk is an Australian risk management intermediary business. KJ Risk’s primary activities relate to discretionary mutual fund (DMF) services, including DMF broking and management services. KJ Risk also supplies general insurance broking services to a limited extent, including corporate and private client broking and workers compensation consulting services.