Ann: ENA signs non-binding agreement to sell its UK operations, page-21

correct. The Australian business will not be able to scale up enough for an ASX listed company, as evidenced by the big MGAs now only buying overseas. Only scraps here in Australia and ENA is not even at the table. Organic growth will seem good coming off such a low base for maybe 2 years but its trench warfare out there and will only be able to grow so much organically. Certainly not enough to support a listed entity.

Good thing about insurance there is little downside as earnings are stable. But so many better stocks to invest in with upside.