Steadfast Group Limited
ASX-SDF
Company Overview
Steadfast Group Limited provides general insurance brokerage services Australasia, Asia, and Europe. It also provides insurance underwriting services and related services. The company offers business insurance products, such as aviation, business pack, business interruption, contract works, corporate travel, cyber, events, farm, marine, management liability, product liability, professional indemnity, public liability, trade credit, and workers' compensation insurance. It also provides personal insurance products, including home and contents, landlord, life, motor, and strata insurance. The company operates a network of 427 general insurance brokers and 28 underwriting agencies. Steadfast Group Limited was incorporated in 1996 and is based in Sydney, Australia.
Name
Steadfast Group Limited
CEO
Robert Bernard Kelly
Website
www.steadfast.com.au
Sector
Insurance
Year Founded
1996
Company Statistics
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Bulls Say
Steadfast's scale and expertise in insurance products and services leave it well placed to benefit from the essential nature of insurance.
There is further earnings upside if usage of the Steadfast Client Trading Platform—which generates higher broker commissions—gains traction.
The firm's impressive acquisition record boosts earnings growth.
Bears Say
The growth prospects for insurance volumes and prices are closely tied to the ebb and flow of the insurance cycle and general economic conditions. Downside risk could increase if Australia's growth outlook weakens.
The insurance pricing cycle could weaken if there is excess capacity in the global reinsurance market and increased competition.
Insurers have historically driven down premium rates to gain market share, and margins for the key broker network could come under pressure if this persists.