Steadfast’s Investment in Global Broker Network Underpins Growth Strategy. AUD 2.80 FVE Unchanged
No-moat-rated Steadfast Group’s brief announcement acquiring a non-controlling stake in global general insurance broking network, unisonBrokers is not surprising as the deal is consistent with Steadfast’s business strategy to develop global strategic partner relationships. It is the classic “strategic acquisition,†but without any financial detail, it is impossible to fully gauge risks and opportunities. The investment appears to be a sensible initiative to expand Steadfast’s broker reach utilis...Steadfast Group is engaged in the provision of services to Steadfast Network Brokers, the distribution of insurance policies via insurance brokerages and underwriting agencies, and related services.
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