Steadfast-owned Underwriting Agencies of Australia has renewed its binder agreement with QBE for another 10 years.

The deal includes capacity for UAA’s wholly owned subsidiary Underwriting Agencies of New Zealand.

“This agreement marks a significant milestone for UAA and underscores our commitment to delivering exceptional insurance solutions for our brokers and their clients,” UAA Group CEO Stan Alexandropoulos said.

“Our relationship with QBE has been instrumental in maintaining our position as an industry leader, and we are eager to continue working together to provide innovative and tailored underwriting solutions over the next decade.”

QBE Australia Pacific CEO Sue Houghton says the agreement “reflects our shared dedication to providing innovative insurance solutions to the Australian and New Zealand market”.

Steadfast bought UAA – a specialist in mobile plant and equipment insurance – in 2015 from QBE. In 2022, Steadfast merged UAA with its Mecon Insurance business to form a combined mobile plant, equipment and construction insurance group.