MEDIA RELEASE: MECON Insurance joins forces with Underwriting Agencies of Australia
Sydney, Thursday 7 July 2022,
Australasia’s largest underwriting agency group, Steadfast Group, today announced that two of its specialist underwriting agencies, Underwriting Agencies of Australia (UAA) and MECON Insurance, will merge to form a combined mobile plant, equipment and construction insurance group.
Effective from 1 July 2022, the merger brings together UAA, a specialist in mobile plant and equipment insurance, and MECON, a specialist in construction insurance, strengthening Steadfast’s underwriting capability across Australia and New Zealand.
The alignment reflects growing demand for specialised insurance solutions in the construction and infrastructure sectors, where technical expertise and tailored underwriting are increasingly critical.
Steadfast Managing Director and CEO Robert Kelly said the merger was a natural and strategic fit.
“The timing is right for UAA and MECON to come together to become a single powerhouse in the mobile plant and equipment and construction insurance industry.
The combination of these two highly specialised agencies is a natural alignment with their complementary strengths and skills to further grow in the Australian and New Zealand insurance markets. Furthermore, this merger will enhance UAA’s capability and experience to continue offering their clients the scale and scope they’ve come to expect.”
MECON Insurance proudly offers construction insurance solutions that have been voted by brokers as the best annual construction policy wording in Australia for six consecutive years, along with a five-star claims service rating in the LMI Claims Comparison.
Both the MECON and UAA brands will continue to operate under their existing names, ensuring continuity for brokers and clients while benefiting from the combined expertise and scale of the merged group.
About Steadfast Group
Steadfast Group is Australasia’s largest underwriting agency group, supporting a network of specialist underwriting agencies across Australia and New Zealand.
About MECON Insurance
MECON Insurance is a specialist underwriting agency providing construction insurance solutions across Australia and New Zealand.
About Underwriting Agencies of Australia
Underwriting Agencies of Australia is a specialist underwriting agency focused on mobile plant and equipment insurance solutions.
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UAA important note
Underwriting Agencies of Australia Pty Ltd (ABN 86 003 565 302 AFSL: 238517) and Underwriting Agencies of New Zealand Limited (company number 4758199, NZBN: 9429040999678) issue products under a binder agreement as agent of the insurer: QBE Insurance (Australia) Limited (ABN 78 003 191 035, AFSL: 239545).
Mecon Insurance important note
MECON Insurance Pty Ltd (ABN 29 059 310 904, AFSL 253106) and MECON Insurance Ltd (company number 5604485, NZBN: 9429041620298) issues product under a binding agreement as agent of the insurers: AIG Australia Ltd (ABN 93 004 727 753, AFSL 381686) and AIG Insurance New Zealand Limited (company number 3195589).