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.

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.