MECON Insurance joins forces with Underwriting Agencies of Australia

MECON Insurance joins forces with Underwriting Agencies of Australia

 Sydney, Thursday 7 July 2022, Australasia’s largest underwriting agency group, Steadfast Group (Steadfast), today announced that two Steadfast Underwriting Agencies, Underwriting Agencies of Australia (UAA) and MECON Insurance (MECON), will merge.

From 1 July 2022, UAA a specialist in mobile plant and equipment insurance and MECON a specialist in construction insurance merged to form a combined mobile plant and equipment and construction insurance group.

Steadfast Managing Director & CEO Robert Kelly said: “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.

“As part of the new operating structure, MECON, currently owned by Steadfast Group, will be wholly owned by UAA, which in turn is majority owned by Steadfast Group. MECON’s construction portfolio will continue to operate under MECON branding, with MECON’s CEO Glenn Ross reporting directly to UAA CEO Michael Murphy.”

“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”.

Founded in 1972, UAA prides itself on innovative insurance solutions for the mobile plant industry in Australia, New Zealand and globally. The MECON and UAA brands will remain the same.

For more information on the above announcement, please contact your local UAA or MECON branch.

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).