Steadfast Group has reported strong half-year results, showing growth in earnings, revenue, and premiums. The company, listed on the ASX, revealed underlying NPATA increased by 6.3% to $161.5 million, with underlying NPAT rising 7.3% to $137.5 million. Their earnings before interest, tax, and amortisation (EBITA) climbed 12.6% to $293.6 million. Revenue reached $1.01 billion, up 14.6%, while the interim dividend rose 5.1% to 8.2 cents per share.
CEO Robert Kelly described the results as a sign of steady growth and a strong business model. However, these numbers arrive just after Kelly announced his intention to step down as CEO and managing director. The company is working with Spencer Stuart to find his replacement, with an announcement expected alongside the full-year results in August 2026. Kelly plans to stay on as a non-executive director, pending approval at the next annual meeting.
This leadership change follows a challenging year for Kelly, who temporarily stepped aside amid an external investigation into a workplace complaint. Steadfast previously said the matter was handled with confidentiality and fairness but acknowledged it drew attention to governance and culture within the group.
In finance, Steadfast has also made changes. Stephen Humphrys retired as CFO in August 2025, and Hannah Lee, previously the group financial controller, took over as acting CFO. She has now been officially promoted to CFO, providing clearer direction on finance, acquisitions, and technology initiatives.
On the business front, premium volumes remain a key focus. Steadfast achieved $12 billion in gross written premiums across Australasian broking and underwriting agencies. The Australasian broker network alone grew 4.4% to $6.4 billion. These figures highlight the company’s scale and its influence in negotiating with insurers and managing product access during shifting market conditions.
At the same time, underwriting agencies showed mixed results. Although gross written premiums rose 3% to $1.2 billion, EBITA fell slightly by 0.2% to $112.7 million. This small dip reminds us that growth in premium volume doesn’t always mean higher profits, especially when claims and capacity issues come into play.
Internationally, Steadfast saw a big jump in net revenue, up 220.5% to $56.4 million. This growth was boosted by acquisitions and strong specialty lines performance, including Novum Underwriting Partners, acquired in August 2025. Novum alone produced over US$140 million in gross written premiums with 60% organic growth, showing the group’s expanding global reach and specialty expertise.
Acquisitions remain a key part of Steadfast’s strategy. The company completed $238.9 million worth of deals in the first half of 2026 and plans another $195 million in acquisitions for the second half. This ongoing consolidation reflects continued competition for quality broker businesses and suggests many principals are considering joining larger networks.
Technology is another important focus. Steadfast is investing in tools like the SCTP platform and its “Insurebot” automation. These aim to speed up insurance processing, lower costs, and strengthen broker relationships. If successful, this could help smaller brokers compete by focusing more on customer advice rather than manual paperwork.
Despite these investments, the company faces challenges maintaining profit margins while supporting broker independence. Steadfast reported free cash flow of $34.7 million for the half, which will help fund future technology and acquisition plans, although spending needs remain tightly managed given rising costs in compliance and cyber security.
Looking ahead, Steadfast reaffirmed its full-year NPATA guidance between $365 million and $375 million. It also expects a 2–3% increase in Australian premium pricing, which may help keep revenue growing. Overall, the company’s results show it remains a powerful player in the Australasian insurance broking world, even as it prepares for key leadership changes and continues its push into technology and global markets.