Australia's Steadfast surges most in over 1 week on buying US insurance firm

Steadfast

06/10/2023 03:58

** Shares of Australian general insurance broker Steadfast
Group  SDF.AX  rise as much as 1.3% to A$5.56, marking its
biggest intraday pct gain since Sept. 26
    ** Co to acquire U.S. private insurance agency ISU group for
$55 mln
    ** Expected to be EPS accretive from date of acquisition -
SDF
    ** Co aims to deliver its business model to the U.S.
insurance market
    ** SDF, however, is set to mark its worst week since Sept.
8, having lost over 1.2% in value so far 
    ** Stock up 0.37% YTD, as of last close

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com;))