• Steadfast Australasian Networks GWP +7.9% to $6.5b
• ISU Steadfast performed ahead of expectations in 1H25
• Steadfast Underwriting Agencies GWP +11.7% to $1.22b

Steadfast Group reported a strong set of results for the first half of FY25, with growth across its key business segments. Steadfast Australasian Networks GWP increased by 7.9% to $6.5 billion, driven by organic growth, new broker additions, and mergers and acquisitions. The company's international businesses also performed well, with ISU Steadfast exceeding expectations in 1H25 due to expense discipline, higher profit sharing, and additional membership fees and interest income. Steadfast Underwriting Agencies saw GWP grow by 11.7% to $1.22 billion, with a focus on retention and new business initiatives. The company also completed $198.9 million in acquisitions during the period, including the strategic acquisition of H.W. Wood Limited in London. Steadfast maintained a strong balance sheet, with a corporate debt facility of $860 million and significant headroom in its debt covenants. The company's Steadfast Client Trading Platform (SCTP) continued to gain traction, with GWP transacted through the platform reaching $788 million in 1H25, a 13.9% increase year-on-year. Steadfast also provided an update on the internal review of its large specialist strata broker and underwriting agency subsidiaries, with actions completed and underway to enhance disclosures and strengthen its internal audit and governance function.

Steadfast Group is targeting $300 million in acquisitions for the full year FY25.

Steadfast Group remains focused on driving organic growth, completing strategic acquisitions, and expanding its international presence and capabilities. The company is well-positioned to capitalize on opportunities in the insurance and reinsurance markets.