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Monday 21 August 2017

Steadfast reveals record results










credit extract from ins mag

 Steadfast has announced a fourth consecutive year of growth with net profit after tax for the business up 10% for FY17.

Profit hit $66m, up 9.8% on last year, as GWP hit record levels of $5bn placed by Steadfast Network brokers, also up 9.8% on last year.





Robert Kelly, managing director and CEO of Steadfast, said that the record GWP result was thanks to “premium price increases in the last few months across our primarily Australian SME (small-to-medium enterprise) portfolio and the addition of 18 new brokers to the Network”.


Steadfast Underwriting Agencies also saw GWP rise 4% over the year as Steadfast Direct delivered a 115% boost on its GWP numbers compared with last year.

 

“We saw premium price improvements across our portfolio with a 3.8% increase in FY17,” Kelly continued. “The June renewal period was particularly strong, resulting in a circa 6% GWP uplift compared to the prior corresponding period.”

Kelly noted that the firm continues to invest in technology to benefit both its brokers and clients with the Steadfast Client Trading Platform now featuring five insurance classes contracted with insurer partners which is expected to see revenue increases next year.

Looking ahead, the firm provided its FY18 guidance of profit between $70m and 475m, based on premium price increases across brokers’ portfolios of 5-7%.


Steadfast is a member group of Brokers throughout  Australia and Asia


Recommended Steadfast member Broker in Perth WA Western Australia















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Tuesday 8 August 2017

email scam more than ever warns ASIC







 Image result for email scam


 The Australian Securities and Investments Commission (ASIC) has issued a warning against scam emails purporting to be from ASIC.









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The corporate watchdog said some of its Registry customers continue to receive fake emails that appear similar to ASIC's and generally instruct recipients to click on a link or download a fake invoice. These fake emails are used by scammers to elicit payments, spread software viruses, and install spyware or malware programs for stealing personal information from ASIC customers.




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“It is always important to be wary of unsolicited emails that demand payment or contain suspicious attachments or links, especially if you have never dealt with the organisation they are from,” ASIC commissioner John Price said.

Search and compare insurance product listings against Phishing from specialty market providers here

The regulator said an email will not be from ASIC and is probably a scam if it asks the receiver:
  • to make a payment over the phone;
  • to make a payment to receive a refund;
  • to provide credit card or bank details directly by email or phone; or
  • to download software for an electronic device.
ASIC also cited the following measures for helping customers protect themselves online:
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  • keep all anti-virus, malware, and spyware protection updated;
  • avoid clicking on any suspicious links;
  • ensure that there's a firewall in place and that it's up-to-date; and
  • scan email attachments with security software before opening them – especially if they are executable (.exe) files or zip (.zip) files, as these are more likely to contain malware or ransomware viruses.


To make sure about the authenticity of an email, customers can visit the ASIC website for more information.

Anyone affected by a scam can report to the ACCC via the Scamwatch 'Report a scam' page.





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