Steadfast's Growth Not Solely Reliant on Premium Rate Increases

Steadfast Group operates the largest general insurance broker network in Australia and New Zealand. Taking equity interests in the insurance broker business, Steadfast has been consolidating the market since it was founded in 1996. It has deployed a similar strategy in underwriting agencies. It derives revenue by being paid a commission (from insurers) based on gross written premiums written by agencies within its network, earning a share of profits from associates and joint ventures, and receiving professional services fees.