Steadfast Group Ltd

SDF: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$9.80	Clwzk	Rzwbdkmrp

Steadfast: Small Step in U.S. Expansion but Ambitions Remain Large

Nathan Zaia

Oct 6, 2023

Narrow-moat insurance broker Steadfast marks its expansion into the United States with the acquisition of ISU Group for USD 55 million. ISU operates an independent insurance broker network in the U.S., providing 220 broker members with access to insurers and other services like coaching and best practices. Revenue is split roughly evenly between member payments and commission fees from insurers based on volumes and the claims ratio within the network.

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