Steadfast buys stake in global general insurance broker

Company News

by Jessica Amir

Steadfast Group Limited (ASX:SDF) has bought a stake in one of the largest networks of general insurance brokers in the world, unisonBrokers.

Australia’s largest insurance brokering network, inked the agreement to buy a non-controlling stake in the firm to grow both of the company’s global distribution networks.

unisonBrokers has 200 brokers across 130 countries and with a gross underwritten premium of US$17 billion.

As part of the agreement, unison will be renamed ‘unisonsteadfast’.

Steadfast’s MD and CEO, Robert Kelly and the COO, Samantha Hollam, will join unisonsteadfast’s Supervisory Board.

Shares in Steadfast Group Limited (ASX:SDF) last traded 0.72 per cent lower to $2.75.

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.