Steadfast Group to be acquired by KKR-backed consortium for A$5.5 billion

Australian insurance broker Steadfast Group has agreed to a A$5.5 billion buyout by a consortium backed by the investment firm KKR. The deal includes participation from Amwins Group and Dragoneer Investment Group.

Under the terms of the acquisition, Amwins Group will acquire Steadfast’s underwriting agency business, while Dragoneer Investment Group will take control of its broking operations. Shareholders are set to receive A$6 per share in cash, representing a 51.9% premium over the company’s closing share price on June 9.

In its FY2026 financial results, Steadfast reported a 15.3% year-over-year increase in underlying revenue to AU$2.10 billion. The company also noted an underlying NPATA increase of 7.1% to AU$366.3 million. CEO Robert Kelly stated that the backing of international investors would allow the group to strengthen its competitive position and accelerate investment in technology and services.