Gallagher Re has signed an agreement to acquire Sydney-based Steadfast Re Pty Limited, the global broker announced in a press release issued on Tuesday, 2 September.

The terms of the transaction were not disclosed. Completion is expected during the fourth quarter of 2025.

“This strategic move will enhance our ability to support a range of clients, including MGAs and mutuals, and gives our local team a level of strength and increased scale,” said Mark O’Brien, Managing Director of APAC at Gallagher Re.

Heather Bone, CEO of Gallagher Re Australia, added that “The Steadfast Re team has a strong cultural alignment to our team—which is critical.”

Steadfast Re provides reinsurance broking services in Australia. The acquisition will expand Gallagher Re’s footprint in the region and is in line with its broader investment in APAC. It comes on the heels of the company acquiring agriculture-focused broker MACK Insurance last month.