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unisonBrokers and Steadfast Group Form Strategic Partnership To Grow Global Distribution

Holding Globe
June 13, 2017

unisonBrokers (unison) and Steadfast Group have formed a strategic partnership, including an agreement where Steadfast acquires a noncontrolling stake in unison to grow the global distribution platform for both networks.

unison, based in Hamburg, Germany, and Chicago, is among the largest networks of general insurance brokers worldwide that includes more than 200 brokers across 130 countries, representing US$17 billion of gross written premium. unison offers multi-jurisdictional coverage to its clients by leveraging the network’s global footprint. The network was founded in 2005 by Wolfgang Mercier, who has operated as CEO since inception.

Steadfast, established in 1996, is the largest general insurance broking network and the largest underwriting agency group in Australia and New Zealand. The network provides services to over 352 broker businesses across Australia, New Zealand, Southeast Asia, and London. Steadfast network brokers and underwriting agencies generated billings of more than AUS$7.25 billion for the 12 months ended June 30, 2016. Steadfast also operates as a co-owner and consolidator through its equity interests in a number of broker businesses, underwriting agencies, and other complimentary businesses.

unison will be renamed unisonSteadfast following the transaction. Steadfast managing director and CEO, Robert Kelly, and COO, Samantha Hollman, will join the unisonSteadfast Supervisory Board. Former managing director of Munich Re Australia, Heinrich Eder, will also join the unisonSteadfast Supervisory Board.

Steadfast will join the unisonSteadfast network and facilitate access to international markets for brokers in the existing Steadfast network. Steadfast’s current operations in Australia, New Zealand, Asia Pacific, and London (wholesale) will continue unchanged.

Robert Kelly, managing director and CEO of Steadfast, said, “We are excited about the chance to extend our broker network’s global reach and provide potential new opportunities for both parties.”

Wolfgang Mercier, CEO of unison, said, “I am delighted with this strategic partnership. unisonSteadfast will allow our brokers to benefit from Steadfast’s experience and success in providing products and services to support the network and to facilitate access to new markets. This will enhance our already strong business model and offering for our brokers.”

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