Steadfast Group has strengthened its global expansion strategy by acquiring a majority interest in U.S.-based specialty underwriting agency and wholesale brokerage, Novum Underwriting Partners.
The move builds on Steadfast’s international footprint, which already includes ownership of HWS Speciality, a Lloyd’s broker in the UK that supports wholesale placements.
Founded in 2019 and headquartered in Ohio, Novum has quickly established itself as a technology-driven platform for the insurance sector. Its proprietary system, Novum Online, offers a full suite of digital capabilities, including a marketplace, submission and underwriting tools, as well as quoting, servicing, renewals, and policy management functions for brokers and distribution partners.
Under the new arrangement, Novum will serve as Steadfast’s program development and management platform in the U.S., delivering specialist managing general agency (MGA) and wholesale solutions. This will benefit both the company’s U.S. broker network, ISU Steadfast, and the broader U.S. market.
Novum will continue to operate under the leadership of CEO Christopher Longo, ensuring continuity as it integrates into Steadfast’s growing international operations.
