Steadfast’s QIB Group Holdings is seeking to buy Queensland-based Axiom Insurance Brokers.

QIB has notified the Australian Competition and Consumer Commission, which has started an initial assessment and has invited feedback via a questionnaire by Friday next week.

The regulator is due to make a decision by January 12.

Axiom, a Steadfast network member, has offices in Chinchilla, Toowoomba, Bell and Goondiwindi, and focuses on commercial, agriculture and domestic insurance.

Steadfast established a significant Queensland broking base by buying an interest in Regional Insurance Brokers, which later expanded through acquisitions and was rebranded QIB Group in 2021.

The ACCC says QIB now holds equity interest in broking businesses across more than 25 offices spanning Queensland, Victoria, NSW, Tasmania and the NT.

Brands include Austcover, Regional Insurance Brokers and Steadfast Taswide, T&G Insurance Brokers and Oceanic Marine Risks.

The questionnaire asks respondents to outline any competition concerns, including whether the parties are “close competitors and there are not many alternatives, or if one is a major supplier to competitors of the other”.

Find details here.