Search This Blog

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















 Call  93688999 Central Insurance Brokers - Est: 1980


 More about STEADFAST 





 Have you been to the Awesome 
ELIZABETH Quay
 Perth city foreshore lights up

 

newsflash report on Elizabeth Quay - click here




SPONSOR


Finance for short term commercial lending
WWW.QUECAPITAL.COM

Finance Brokers Welcome

Success
Stories

 
 


Image result for steadfast

No comments:

Post a comment