The deal will enable the two insurance industry specialists to combine their strengths and expertise to enhance services offered to IBAA clients by providing them with access to Steadfast Life’s comprehensive suite of services, including client experience, advice, and claims management.
“Joining Steadfast Life represents an exciting new chapter for us. We look forward to integrating and leveraging Steadfast Life’s robust offering to enhance our value proposition to clients,” said IBAA founder Ivan Bakin.
A key part of Steadfast Group, Steadfast Life manages over $85 million in claims for clients with a 98.6% claims admittance rate.
The acquisition is part of Steadfast Life’s strategic goal to expand within the life insurance industry.
Commenting on the deal, Steadfast Life CEO Darren Conway said: “We are thrilled to welcome Ivan, his team, and the IBAA clients to Steadfast Life. Our shared values and dedication to providing exceptional advice and service align perfectly. This acquisition reinforces our commitment to keeping life on track for our clients when they need it most.”
The deal with IBAA follows Steadfast Group’s expansion into the US insurance market.