Ashurst Perkins Coie has advised Amwins Group Inc on the A$8 billion consortium proposal to acquire the ASX-listed Steadfast Group.
Following implementation of the scheme, Amwins will own Steadfast's underwriting agency business and KKR and Dragoneer will own the retail broking business.
Steadfast is one of Australasia's leading insurance broker networks and underwriting agency groups, supporting a broad network of brokers and distribution partners across Australia, New Zealand and Asia. The proposed acquisition represents one of the most significant transactions in the Australian insurance sector in recent years.
Ashurst Perkins Coie's Head of Corporate, APAC, John Brewster, said:
"We are pleased to support Amwins on a strategically significant transaction that advances its long-term growth objectives in the Australian market. This transaction will bring together leading participants from across the global insurance and investment sectors and underscores the continued attractiveness of high-quality insurance distribution and underwriting businesses in this region."
The Ashurst Perkins Coie team included partners John Brewster, Neil Pathak, Will Mason, Rehana Box, Melissa Fraser and Andrew Craig; counsel Zoe Leyland; senior associates Shay Thananjeyan, Zach McLoughlin, Josh Hanegbi and Imogen Hanrahan.
