Tysers sees revenue of £100m in H1 2024, confirms growth trajectory – Reinsurance News

Tysers, an independent Lloyd’s broker and member of the Australian AUB Group, has reported revenue of £100 million for H1 of the AU 2024 financial year, as it remains “on track” for future growth.

Tysers earnings before interest and taxes (EBIT) for H1 of 2024 stood at £20.3 million, with a 20.4% EBIT margin.

Writing in its key highlights for H1 of 2024, the AUB Group, which acquired Tysers in September of 2022, said that the firm is “on track” with “operating model and portfolio changes underway” to position it for future growth.

AUB also noted the recent bolt-on in Belgium will increase the scale of Tysers EU, while the recruitment of a new team is set to reposition Tysers Singapore as a reinsurance hub.

AUB’s total underlying revenue for H1 of 2024 was $635.7 million, up from $466 million in H1 of 2023, while its underlying EBIT margin stood at 32.5% in H1 of 2024, up from 31.3% for the same period the year before.

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AUB Group CEO and Managing Director, Michael Emmett, commented, “I’m very proud of all that we as a Group have achieved not only over the past year but over several years.

“Specifically, I’d like to acknowledge the Agency and New Zealand teams who have delivered another very strong set of results. These, along with the strong performance in Australian Broking and BizCover, have ensured that these AUB Group results are some of our strongest ever.

“I’d also like to acknowledge the Tysers team and some of the recent additions to our International Businesses.”

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