Allianz Australia has entered into an agreement to sell Hunter Premium Funding to private equity firm Pemba Capital Partners.
The transaction will see Hunter, which enables businesses to spread insurance premium payments over instalments, transition to new ownership while retaining its existing branding and workforce.
The sale aligns with Allianz Australia’s strategic priorities, according to managing director Richard Feledy.
“Our decision to sell this part of our business was made with a focus on simplifying our core operations and ensuring we continue to deliver the best possible value to our partners and customers,” Feledy said.
He added that the move will allow Allianz Australia to concentrate on what it does best while positioning Hunter to grow and thrive under its new ownership.
Pemba Capital Partners said it sees strong potential for the Hunter business under its stewardship.
Robert Haybittel, a partner at Pemba, commented on the acquisition, noting that the firm’s experience with premium funder Arteva provides insights into the industry.
“As a well-established brand, we see tremendous potential for growth and innovation. Having partnered with premium funder, Arteva, for several years now, we have considerable experience and insight in this area,” he said.
He added that both Hunter and Arteva have opportunities to expand and provide more value to brokers and customers.
The deal is expected to close on April 1, 2025, pending regulatory approvals and the fulfillment of other conditions.
The deal comes after Allianz SE set long-term financial goals for the period ending 2027.
At its recent Capital Markets Day, the company emphasised plans to drive growth, enhance efficiency, and strengthen financial resilience.
For its property-casualty segment, Allianz is targeting annual revenue growth of 6% to 7%, a combined ratio between 92% and 93%, and an operating profit of €9.5 billion by 2027.
The life and health insurance division is projected to deliver €6 billion in operating profit, with a focus on preferred product lines contributing over 90% of new business value and achieving a minimum 5% new business margin.
In asset management, the company expects to grow third-party assets under management by 8% annually, aiming for an operating profit of €4 billion and a cost-to-income ratio of around 60%.
