Steadfast Group has announced its acquisition of a majority stake in US-based specialty managing general agency and wholesale brokerage, Novum Underwriting Partners LLC.
Founded in 2019 and based in Ohio, the business is underpinned by a proprietary technology platform, Novum Online, which incorporates a marketplace, submission and underwriting functions that enable quoting, servicing and renewals, as well as policy management for agents and distribution partners.
Novum will serve as Steadfast’s program development and management platform in the United States, offering specialist managing general agency and wholesale solutions to its U.S. agent network, ISU Steadfast, and the broader U.S. market.
The transaction is expected to close during the fourth quarter of 2025.
Gallagher Re, the global reinsurance broker and subsidiary of Arthur J. Gallagher, announced Thursday that it signed an agreement to acquire Steadfast’s reinsurance arm, Steadfast Re Pty Ltd.
Topics
Mergers & Acquisitions
Underwriting
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