Major Australasian dealer community expands into US insurance coverage market


Major Australasian dealer community expands into US insurance coverage market | Insurance Business America

Acquisition to allow group to maximise progress

Major Australasian broker network expands into US insurance market

Insurance News

Roxanne Libatique

Steadfast Group (Steadfast), the biggest normal insurance coverage dealer community and underwriting company group in Australasia, has expanded into the US insurance coverage market by buying ISU Group (ISU).

Starting a franchise over 40 years in the past, ISU has turn out to be one of many largest company networks within the US, with round 220 members throughout 40 states and has partnerships with greater than 75 insurance coverage carriers and wholesalers. It states that it supplies independently owned insurance coverage businesses with the distinctive aggressive benefit of getting the assets and power of a nationwide group whereas retaining their independence.

Steadfast acquires ISU

Robert Kelly AM, founder, managing director, CEO of Steadfast, stated the group had been trying into increasing into the US during the last 5 years.

“We wanted to enter a long-term strategic partnership with an existing US independent agent network to create distribution and a platform to implement our service offering,” Kelly stated. “I’m incredibly excited that our journey into the US has started with ISU. ISU is an excellent fit for us. They bring a stellar management team and existing scale, and we share complementary values with our people and clients. This was an essential consideration for us.”

Kelly defined that the growth will present Steadfast with alternatives to maximise progress and ship its technique and enterprise mannequin to the world’s largest insurance coverage market.

“We look forward to working with the ISU team to deliver further value to ISU through implementing, where appropriate, Steadfast business and insurance solutions to support ISU members and their clients,” he stated.

ISU CEO TJ Ryan commented: “This is an exciting new chapter in ISU’s history. We have taken a long-term view of ISU’s future and are highly confident this partnership with Steadfast will provide ISU’s independent agents with an even greater competitive edge in an ever-changing market.”

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