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Steadfast Group (ASX:SDF), Australasia's largest insurance broking network, received a takeover proposal at a large premium. In June 2026, Pendal Group reported Steadfast rose 30% after an indicative non-binding bid from Amwins and Dragoneer at a 52% premium, noting it implies a relatively modest cash earnings multiple of 18 times. Investors Mutual, a long-term holder, described Steadfast as an unambiguous industry leader in broking and underwriting agencies, reporting a 20% rise on the $6.00 per share cash proposal. Spheria noted the approach came after the shares fell to five-year lows. Steadfast operates in the Financials sector within the Insurance industry, and Thesis Tracker has captured 16 comments from 8 fund managers, including Pendal Group, Investors Mutual and Spheria. Founded in 1996 by Robert Kelly and headquartered in Sydney, Steadfast provides services to its network of insurance brokers and owns underwriting agencies across Australia, New Zealand and the UK.
Company figures as of 15 Oct 2026. For information only.
Fund managers including Oracle Advisory Group, Pendal Group, Investors Mutual Limited, Auscap Asset Management, Yarra Capital Management, Spheria Asset Management, First Samuel and Provenance Value Partnership have invested in Steadfast Group Ltd (ASX:SDF).
Managers highlight the $6.00 per share cash takeover proposal from Amwins and Dragoneer at a 52% premium and Steadfast's industry-leading position in insurance broking and underwriting agencies.
Pendal notes the offer implies a relatively modest valuation of 18 times cash earnings, and the bid is indicative and non-binding, leaving completion uncertain.
Steadfast Group Ltd. is an Australian insurance services company headquartered in Sydney. Founded in 1996 by Robert Bernard Kelly, the firm provides essential services to the Steadfast Network of brokers. Core operations include the distribution of insurance policies through a network of brokerages and underwriting agencies, alongside the provision of related industry services. As a key player in the insurance market, Steadfast supports its network with centralized resources, technology, and strategic support to facilitate efficient insurance distribution and management.
General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.
11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.