UK appointed representative network Momentum Broker Solutions has agreed to sell a 40% stake in the business to Australian broking business AUB Group Ltd. Momentum has 100 AR partners and controls around £90m in premium.

Mike Emmett (pictured), CEO and managing director of AUB Group, said: “We are delighted to announce our partnership with Momentum, a high performing business with an excellent management team which has delivered impressive growth to date.

“Our investment in Momentum is a foundational step to enable AUB’s strategy to build scale and capability in the UK Retail Broking market, a segment of significant interest given our experience and capabilities in this area in the Australian and New Zealand markets.”