Ann: Business and strategy update, page-24

Hey Sajanjoseph,

Had a read of this and it's positive, but the jury is still out on how meaningful this will be to future revenues. AON will be a customer of the Australian financing business, but this also potentially provides a link to servicing the AON business in the US too. Unsure as to what the angle is from a geographic expansion standpoint.

From the wording in the article I've read, it appears as though AON are using the product to support customers adversely affected by inflation of prices in AON's servces. One would think that this is positive for financing demand, as interest rates are rising and inflation is making prices more expensive. At the same time this doesn't guarantee financing volumes, because AON's staff are actually the people selling the product. QFE has no control over how the product is sold, so AON could be great at selling it, or terrible. If loans are written, the credit risk is great because security is over a c$60bn NYSE listed company.

Definitely more of a positive than a negative, and this marks a genuinely big-name entry into professional services outside of traditional accounting. Hopefully its indicative of high growth flowing into the loan book... see how we go haha