The local arm of US conglomerate Berkshire Hathaway is staying tight-lipped about its new partnership with Steadfast Group.

As reported in insuranceNEWS.com.au last week, the listed broker group is soon to launch Steadfast Direct – a direct channel allowing brokers to offer clients retail insurance products.

The first two products offered – home and motor insurance – will be underwritten by Berkshire Hathaway through Berkshire Hathaway Specialty Insurance (BHSI).

Chris Colahan, the inaugural CEO of BHSI’s Australian and New Zealand operation, says he cannot discuss the unit’s plans until he takes up his new role in Sydney early next year.

Blair Nicholls, CEO of Berkshire Hathaway for Australia and New Zealand, also declined to comment on Steadfast Direct. He says further comment on the partnership, including whether Steadfast will have exclusive rights over the insurance products, must come from the broker network.

Steadfast will conduct a national roadshow over the next fortnight to meet with brokers.

A further announcement about Steadfast Direct is expected after the roadshow. The launch is planned for February.