Tysers’ owner cancels UK joint venture
AUB Group has scrapped plans to create a joint venture for Tysers’ UK retail business with fellow Australian stock exchange listed firm PSC Insurance Group.
AUB Group completed the £500m purchase of Lloyd’s wholesale broker Tysers from private equity house Odyssey Investment Partners last September.
In March, Tysers Retail Limited was set up as a separate entity, with AUB detailing that it would bring greater focus to Tysers’ retail business.
[Tysers] is a high-performance business, which continues to demonstrate attractive profitability, and it is strategically aligned with AUB’s Retail broking expertise. Mike Emmett
Following the launch
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