Dec 18 (Reuters) - AUB Group Ltd AUB.AX :
* Signed and completed an agreement to sell its 50% shareholding in strathearn insurance group pty ltd to Arthur J. Gallagher & co
* Says sale of strathearn will realise an after tax profit on sale of approximately $5.9M
* Says sale of strathearn will have a positive impact on reported npat for the year
* Says adjusted npat for FY 2016 will be impacted by the loss of earnings from strathearn from 1st December 2015
* "AUB Group does not consider it necessary to modify its target growth in adjusted npat for FY 2016 of 5% over fy152"
* "If this realised cash profit was included in the definition of adjusted npat, the FY 2016 growth target would increase to 13%"
* "Funds will be used to repay debt in the short term, decreasing gearing (debt to debt plus equity ratio) to approximately 17.5%"
* Source text for Eikon ID:nASX6QyCTT