Steadfast Group Acquires Majority Stake in Novum Underwriting Partners for Global Expansion

Steadfast Group, Australia's largest general insurance broker network, has announced the acquisition of a majority stake in Novum Underwriting Partners.

This strategic move, revealed on September 1, 2025, is a pivotal step in Steadfast's ambition to expand its global operations.

Novum Underwriting Partners is renowned for its expertise in underwriting and risk management solutions. By integrating Novum's capabilities, Steadfast aims to enhance its service offerings, providing more comprehensive and tailored insurance solutions to its clients.

For tradespeople, this acquisition could translate into more specialized insurance products that address the unique risks associated with various trades. Enhanced underwriting expertise may lead to better risk assessment and more competitive premiums, offering tradies improved protection for their businesses and tools.

It's advisable for tradespeople to consult with their insurance brokers to understand how this development might affect their current policies and to explore any new offerings that may better suit their needs.

Published:Thursday, 25th Sep 2025
Source: Paige Estritori

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Knowledgebase

Replacement Cost:
The amount it would cost to replace or rebuild an insured asset with one of similar kind and quality, without depreciation.

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