Steadfast Proposes Strategic Relationship with IBNA, Boosting Broker Numbers. FVE AUD 3.00 Unchanged
In late June, no-moat insurance broker, Steadfast Group, confirmed negotiations with Insurance Brokers Network Australia Limited, or IBNA, to form an alliance. IBNA is a large network of insurance brokers in Australia, with members billing about AUD 1.3 billion in gross written premium annually. For comparison, Steadfast’s insurance broker network billed AUD 5.3 billion of gross written premium in fiscal 2018. The IBNA deal is at an early stage, with the expected impact on Steadfast to be clarif...Steadfast Group is engaged in the provision of services to Steadfast Network Brokers, the distribution of insurance policies via insurance brokerages and underwriting agencies, and related services.
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