Steadfast, which insuranceNEWS.com.au describes as Australia's largest general insurance intermediary, will ask shareholders on 27 November to approve its sale to a consortium of Amwins, Dragoneer and Kohlberg Kravis Roberts (KKR). The Supreme Court of New South Wales ordered the meeting on 23 October, and the Steadfast board repeated its support for the deal, the publication reported.
The offer is A$6 in cash per share. Kroll Australia, the independent expert, valued a Steadfast share at A$5.44 to A$6.09 on a controlling-interest basis, so the offer is inside its range. Kroll concluded that the scheme is in shareholders' best interests if no superior proposal appears. Scheme booklets with its report were due to go to shareholders by Monday.
The parties signed the deal on 21 August. It gives an enterprise value of about A$7.7bn and a 51.9% premium to the undisturbed share price of A$3.95, Reinsurance News reported at the time. Dragoneer and KKR would take the retail broking business and Amwins the underwriting agencies. Permitted dividends of up to A$0.20 a share would reduce the cash paid.
Implementation is expected on 22 December 2026. ASIC has extended Steadfast's deadline, and the company does not plan to hold an annual meeting for 2026 unless the timetable slips.
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insuranceNEWS.com.au ↗News publisher · 23 Oct 2026
This is an original brief based on the linked publication. Company statements and forecasts are attributed to their source.
