AUB Group and IBNA have today announced a decision to mutually end their AIMS joint venture relationship which was established in 2007.
The decision has reportedly been reached due to diverging requirements across the two member groups on the future direction of the partnership. AUB Group and IBNA will work closely towards a mutually agreed transition period.
Mike Emmett, CEO and Managing Director of AUB Group said, “Capacity sourcing and product offering design is a key component of the Group’s value proposition for its partners. When AIMS was established, it was ahead of its time and has since served Austbrokers and IBNA for mutual benefit and I’d like to thank IBNA for their continued support throughout the joint venture. We believe the interests of our partners will be better served through increased control and direct collaborative engagement with Insurance carriers allowing us to negotiate greater flexibility and innovation in product design.”
IBNA Limited Chairman, Gary Gribbin said “For the past twelve years AIMS has been a wonderful construct, serving the interests of IBNA and Austbrokers members and their clients. But now is the right time to move forward in a different direction, one which will secure the strategic position of IBNA members and will provide appropriate support for their businesses and their clients. I offer sincere thanks to Austbrokers and AUB Group and of course wish them well in the future.”