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ACTIVITIES

  • Provision of general insurance products to select market segments in Australia and New Zealand under Wesfarmers Federation Insurance (“WFI”) and Lumley brands
  • Insurance and financial services distribution via OAMPS in Australia and UK, and Crombie Lockwood in New Zealand
  • Specialist risk placement via underwriting agencies in Australia and the UK
  • Development of general insurance software

YEAR IN BRIEF

  • Revenue growth achieved over last year despite a difficult year with softening insurance market and increased competition
  • Significant Event claims – Newcastle and Victorian floods impacted claims expenses and year end results
  • Continued acquisition of a number of niche distribution portfolios in the broker market
  • Acquired OAMPS, leading broker operating in Australia and UK
  • Acquired Crombie Lockwood, leading broker operating in New Zealand

FUTURE DIRECTIONS

  • Earnings likely to continue to be constrained by competitive pressures
  • Maintain business focus in selected market segments
  • Continue to seek opportunities for profitable growth via acquisition
  • Growth through the development of insurance and wealth creation products

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