The expected settlement date is 2 December 2024, subject to regulatory and other commercial terms. Credit: Pasuwan/Shutterstock.

Steadfast Group has announced the complete acquisition of H.W. Wood and HWI France, expanding its London market capabilities.  

The purchase, valued at £23.5m ($30.53m), will be funded through Steadfast’s free cash flow and existing corporate debt facilities.  

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

H.W. Wood, an independent insurance broker since 1982 and a Lloyd’s broker since 2003, employs more than 75 staff across the UK, France and Greece. The company specialises in international marine and cargo, fine art, property, specie and other insurance sectors.  

The expected settlement date is 2 December 2024, subject to regulatory and other commercial terms. 

Steve Rudduck, managing director of H.W. Wood since 1999, will continue to lead the company post-acquisition.  

The Steadfast Placements team, which assists network brokers of Steadfast in Australasia with complex risks in London, will join the new entity, enhancing service offerings with H.W. Wood’s market presence and relationships. 

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

This move will also enable Steadfast to expand its placements and wholesale broking services to the ISU network in the US and increase the inbound business servicing from the international UnisonSteadfast network.  

The acquisition aligns with Steadfast’s strategy to manage binders in London in-house over the next two years, aiming to minimise expenses and boost revenue for the group. 

Steadfast Group MD and CEO Robert Kelly said: “We have been investigating options to expand further into the London market to substantially increase our ability to support our network brokers and agencies in Australasia, UnisonSteadfast and in the US, and provide a runway of additional international growth opportunities.” 

Last year, Steadfast Group secured a deal to acquire a 70% equity stake in Combined Agency Group, operating as Sure Insurance.