Steadfast, Austbrokers and Arthur J Gallagher are understood to be at the forefront of bidders for QBE’s underwriting agencies.

The businesses for sale are strata specialist CHU, which became fully owned in 2004, and mobile and plant equipment business Underwriting Agencies of Australia (UAA), which QBE bought in 2008.

Steadfast and Austbrokers have made no secret of their desire to expand underwriting agency activities, while Arthur J Gallagher bought SRS last year and this year combined it with Australis Group to form Pen Underwriting.

QBE Group CEO John Neal says other agencies, including Elders Underwriting and Trade Credit Underwriting Agency, will not be sold.