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Steadfast Group Limited
Steadfast is a insurance broking and underwriting group that earns commissions and fees from selling and managing insurance for businesses across Australasia, Asia, and Europe.
Steadfast is one of the biggest insurance brokers in Australia and New Zealand. Most people never deal with it directly, though. Its customers are small and mid-sized businesses that need insurance — a plumber wanting cover for his van and tools, a café owner worried about a fire, a builder needing protection against a lawsuit. These businesses rarely buy insurance straight from an insurer. They go to a local broker, who shops around and finds them a policy. Steadfast sits behind a huge network of those brokers.
The company makes money in a few connected ways. It owns a large group of brokerages that earn commissions when they place a customer's policy with an insurer. It also runs an underwriting agency, which is a business that takes on insurance risk itself and designs specialty policies, often sold through those same brokers. And it sells services to brokers — software, back-office help, and access to better deals with insurers. The network model is the engine: the more brokers that join, the more bargaining power Steadfast has with insurers, and the more steady fees flow in. What makes Steadfast unusual is that many of its brokers are also part-owners. When a brokerage joins the network, it often takes shares in Steadfast, so the brokers work partly for themselves and partly for the group. That builds loyalty and keeps competitors from poaching them. The company has grown largely by buying brokerages and underwriting agencies, dozens of them over the years, and folding them into the network. It also pays a dividend and buys back shares from time to time.
The business is steady rather than glamorous. Insurance commissions renew every year as long as customers keep their policies, so revenue is recurring and predictable. But it is also exposed to insurance prices — when premiums rise across the market, Steadfast's commissions rise with them, and when premiums soften, growth slows. Its main competitors are other big broking groups, including Marsh & McLennan and Aon internationally, plus countless local brokers. Steadfast's edge is its scale in Australia and New Zealand and the loyalty of its part-owner broker network.
Saved answer · last researched 12 Nov 2026