Austbrokers under review

The insurance broking industry is rapidly changing. It's time for a closer look.

Austbrokers’ share price has fallen 8% since Austbrokers: Interim result 2015 from 26 Feb 15 (Hold – $9.06), when the company reported a 15% fall in net profit due to a significant drop in premium prices reducing Austbrokers’ share of commissions. The industry is changing rapidly due to the rise of online brokers and aggressive competition from rival Steadfast, not to mention our ongoing concern that margins at insurers like Insurance Australia Group and Suncorp are unsustainable. With Austbrokers’ current share price hovering just below our Buy price, we want to review the situation in depth before making any changes to our recommendation. We expect to publish our findings late next week and, until then, Austbrokers is UNDER REVIEW.

Note: Our model Income and Growth Portfolios own shares in Austbrokers.



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