{"id":25092,"date":"2026-06-10T10:12:43","date_gmt":"2026-06-10T10:12:43","guid":{"rendered":"https:\/\/www.insurancejournal.com\/?p=873166"},"modified":"2026-06-10T10:12:43","modified_gmt":"2026-06-10T10:12:43","slug":"australia-insurance-broker-steadfast-gets-offer-from-amwins-pe-firm-dragoneer","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2026\/06\/10\/australia-insurance-broker-steadfast-gets-offer-from-amwins-pe-firm-dragoneer\/","title":{"rendered":"Australia Insurance Broker Steadfast Gets Offer From Amwins, PE Firm Dragoneer"},"content":{"rendered":"<ul class=\"nav nav-tabs tabs tabs-entry\">\n<li class=\"active\"><a href=\"https:\/\/www.insurancejournal.com\/news\/international\/2026\/06\/10\/873166.htm\">Article<\/a><\/li>\n<li><a href=\"https:\/\/www.insurancejournal.com\/news\/international\/2026\/06\/10\/873166.htm?comments\" rel=\"nofollow\">0 Comments<\/a><\/li>\n<\/ul>\n<div class=\"article-content clearfix\">\n<p class=\"bloomberg\">Australian insurance broker Steadfast Group Ltd. received an indicative offer from US specialty insurance distributor Amwins Group Inc., and private equity firm Dragoneer Investment Group LLC, that sent its shares surging by a record 36%.<\/p>\n<p>The conditional, non-binding cash offer of A$6 per share ($4.21) announced Wednesday is a nearly 52% premium to the stock\u2019s Tuesday closing price, giving the company an enterprise value of about A$7.7 billion, including debt, according to Sydney-based Steadfast. The move follows two lower offers from the consortium for the company, Steadfast said.<\/p>\n<div class=\"bzn bzn-sized bzn-intext\">\n<ins data-revive-zoneid=\"79\" data-revive-topics=\"agencies\" data-revive-companies=\"amwins\" data-revive-block=\"1\" data-revive-id=\"36eb7c2bd3daa932a43cc2a8ffbed3a9\"><\/ins> <\/div>\n<p>Dragoneer intends to take ownership of Steadfast\u2019s retail brokerage business, while Amwins plans to acquire the firm\u2019s underwriting agency business, according to a statement.<\/p>\n<p>Steadfast said its board \u201chas determined that it is in the best interests of Steadfast shareholders,\u201d to explore the deal and it agreed an eight-week due diligence period with the would-be purchasers. The company\u2019s shares surged to A$5.38.<\/p>\n<p><a href=\"https:\/\/www.insurancejournal.com\/app\/uploads\/2026\/06\/steadfast-group-shares-soar-after-takeover-offer-bloomberg.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-873168 size-full\" src=\"https:\/\/www.insurancejournal.com\/app\/uploads\/2026\/06\/steadfast-group-shares-soar-after-takeover-offer-bloomberg.jpg\" alt width=\"1200\" height=\"675\" srcset=\"https:\/\/www.insurancejournal.com\/app\/uploads\/2026\/06\/steadfast-group-shares-soar-after-takeover-offer-bloomberg.jpg 1200w, https:\/\/www.insurancejournal.com\/app\/uploads\/2026\/06\/steadfast-group-shares-soar-after-takeover-offer-bloomberg-300x169.jpg 300w, https:\/\/www.insurancejournal.com\/app\/uploads\/2026\/06\/steadfast-group-shares-soar-after-takeover-offer-bloomberg-580x326.jpg 580w, https:\/\/www.insurancejournal.com\/app\/uploads\/2026\/06\/steadfast-group-shares-soar-after-takeover-offer-bloomberg-768x432.jpg 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\"><\/a><\/p>\n<p>The offer follows a share price slump that wiped out around 40% from Steadfast\u2019s market value from a high last year until Tuesday. The decline began in late October with the biggest-one day slump after the firm said that Chief Executive Robert Kelly would take temporary leave amid an investigation of a workplace complaint made against him. Kelly was reinstated the following month after an external investigation, the company said at the time, before announcing in February that Kelly plans to retire.<\/p>\n<p>The offer reflects \u201ca timely bid as the CEO is moving on,\u201d said Rom Shamgar, head of Australian equities at TAMIM in Sydney. \u201cSo it\u2019s been vulnerable to a takeover,\u201d he said.<\/p>\n<p>Read More: Steadfast Gets Offer From Group at 52% Premium: M&amp;A Snapshot<\/p>\n<div class=\"bzn bzn-sized bzn-intext-2\">\n<ins data-revive-zoneid=\"162\" data-revive-topics=\"agencies\" data-revive-companies=\"amwins\" data-revive-block=\"1\" data-revive-id=\"36eb7c2bd3daa932a43cc2a8ffbed3a9\"><\/ins> <\/div>\n<p>US-headquartered Amwin is a global specialty insurance distributor with $48.8 billion in annual premium placements and more than 8,000 employees, according to its <a href=\"https:\/\/www.amwins.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">website<\/a>.<\/p>\n<p>JPMorgan Chase &amp; Co. and Citigroup have been appointed as joint financial advisers on the deal, Steadfast said.<\/p>\n<div class=\"article--copyright\">\u00a9 2026 Bloomberg L.P.<\/div>\n<div class=\"copyright-notice quiet\">Copyright 2026 Bloomberg.<\/div>\n<p class=\"tagtag\"> <span class=\"tagtag\">Topics<\/span> <a href=\"https:\/\/www.insurancejournal.com\/agencies\/\" class=\"btn btn-sm btn-primary tagtag\">Agencies<\/a> <a href=\"https:\/\/www.insurancejournal.com\/location\/australia\/\" class=\"btn btn-sm btn-primary tagtag\">Australia<\/a> <\/p>\n<\/p><\/div>\n<div class=\"article-poll\" data-post=\"873166\">\n<div class=\"article-poll-vote\">\n<p>Was this article valuable?<\/p>\n<\/p><\/div>\n<div class=\"article-poll-feedback voted-no\">\n<form class=\"feedback-form\">\n<p>Thank you! 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