Steadfast Group has today entered into an agreement to acquire 70% of the equity interest in Combined Agency Group Pty Limited, trading as Sure Insurance (“Sure Insurance”). Sure Insurance is a rapidly growing underwriting agency providing home and contents insurance in regional Queensland, Australia.
Managing Director & CEO Robert Kelly said “Consistent with our growth strategy, Steadfast Group continues to pursue highly attractive acquisitions that are complementary to the existing portfolio and continue to further enhance Steadfast Group as the largest general insurance broker network and largest group of insurance underwriting agencies in Australasia.
Sure Insurance is a highly compelling acquisition opportunity, and there is strong cultural alignment between the two organisations. We look forward to partnering with the Sure Insurance team to continue providing unique solutions to the market in regional Queensland and support Sure Insurance’s continued growth.”
Managing Director of Sure Insurance, Bradley Heath said “We are delighted to be working with Steadfast Group, an organisation aligned with our philosophy at Sure Insurance. We are particularly excited by the potential opportunities Steadfast can provide to support our growth and expansion.”
For further information, including key terms and conditions of the acquisition, refer to the Investor Presentation lodged with the ASX today (Investor Presentation).
Further information contact Mike Sopinski, Sure Insurance, Communications & Engagement Lead on 0421 052 598.