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Steadfast posts higher profit as US-led consortium takes it private
Underlying net profit after tax rose 8.2% to A$319.5 million for FY26, ahead of a December 2026 target close at A$6.00 per share.
Steadfast Group reported underlying net profit after tax of A$319.5 million for the financial year ended June 30, 2026, up 8.2%, in what it expects to be its likely final full-year result as a listed company before being taken private by a consortium led by three American firms.
The company released results to the Australian Securities Exchange on August 25, 2026, four days after it signed a binding scheme implementation deed with Amwins Australasia Group and Starboard BidCo, which includes Dragoneer Investment Group and KKR. The proposed price is A$6.00 per share, a 51.9% premium to the undisturbed June 9 closing price of A$3.95, and the board has unanimously recommended the deal absent a superior proposal.
Steadfast said completion is targeted for December 2026, subject to shareholder, court, and regulatory approvals. For FY26, underlying revenue rose 15.3% to A$2,104.7 million, while underlying EBITA increased 13.8% to A$669.8 million.
The insurer also reported underlying diluted earnings per share up 7.7% to 28.8 cents and declared a fully franked final dividend of 12.75 cents per share, up 9.0%. It said its division carrying American businesses was the fastest-growing part of the result, with Steadfast International delivering underlying EBITA of A$29.8 million after an A$23.9 million year-on-year increase.