Broker networks combine

Chicago- and Hamburg, Germany-based unisonBrokers A.G. and Sydney-based Steadfast Group Ltd. have formed a partnership in which Steadfast will acquire a noncontrolling stake in unisonBrokers, the networks said Thursday.

UnisonBrokers will be renamed unisonSteadfast following the transaction, according to the statements. 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 Group 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 will continue unchanged. 

“We are excited about the chance to extend our broker network’s global reach and provide potential new opportunities for both parties,” Mr. Kelly said in the statement.

UnisonBrokers is a general insurance network with more than 200 brokers across 130 countries and $17 billion of gross written premium.

The Steadfast network provides services to over 352 broker businesses across Australia, New Zealand, South East Asia and London.