This document is a presentation from Steadfast Group Limited's investor day on June 17, 2015. It provides an overview of Steadfast Group Limited, including that it is the largest general insurance intermediary in Australasia. It discusses Steadfast's business strategy, DNA, and the roles and initiatives of the Partners & Broker Services team and Business Development team to continue growing organically within the Steadfast network.
Zee TV is an India-based satellite television channel owned by Zee Entertainment Enterprises based in Mumbai, Maharashtra,[1] which broadcasts various programmes in Hindi and other regional languages of India. Broadcasting is also present in various nations of South Asia, Europe, the Middle East, Africa, East Asia, Australasia and North America. It is a part of the Essel Group.
Netwealth portfolio construction series - Discover cost effective investment ...netwealthInvest
Part of Netwealth's portfolio construction webinar series - Tracey McNaughton, Head of Investment at UBS presented to an audience on 26th October 2016 about an evolved strategy for today's investment climate.
This is Equity Special Weekly Report:
Nifty, in last week trading session it was down 2%. Its long term trend is up. On weekly chart it has given breakout at below 8500 in channel. Stochastic and RSI has also selling confirmation. On weekly chart nifty has given breakout level at below 8500. Nifty has given breakout below 8500 so our selling level is below 8400 and our target is 8000 and 7800 in coming weeks.
Zee TV is an India-based satellite television channel owned by Zee Entertainment Enterprises based in Mumbai, Maharashtra,[1] which broadcasts various programmes in Hindi and other regional languages of India. Broadcasting is also present in various nations of South Asia, Europe, the Middle East, Africa, East Asia, Australasia and North America. It is a part of the Essel Group.
Netwealth portfolio construction series - Discover cost effective investment ...netwealthInvest
Part of Netwealth's portfolio construction webinar series - Tracey McNaughton, Head of Investment at UBS presented to an audience on 26th October 2016 about an evolved strategy for today's investment climate.
This is Equity Special Weekly Report:
Nifty, in last week trading session it was down 2%. Its long term trend is up. On weekly chart it has given breakout at below 8500 in channel. Stochastic and RSI has also selling confirmation. On weekly chart nifty has given breakout level at below 8500. Nifty has given breakout below 8500 so our selling level is below 8400 and our target is 8000 and 7800 in coming weeks.
Global snapshot of Ecommerce sector valuations, M&A transactions and investment deals in the last three years.
The report focuses on revenue multiples and financial metrics (e.g. margins and growth rates) of publicly listed companies.
The report also provides an overview of the number of M&A and investment deals in the past three years, as well as the total invested capital. It also includes a snapshot of the most active acquirers and investors in the sector.
North Stawell Minerals (NSM) has entered into a strategic alliance with Stawell Gold Mines (SGM) to share premises, resources and most crucially, people.
North Stawell Minerals (NSM) has entered into a strategic alliance with Stawell Gold Mines (SGM) to share premises, resources and most crucially, people.
DeFi Technologies builds and manages assets in the rapidly emerging decentralized financial market, providing institutional and retail investors easy access to previously unseen returns through innovative projects and groundbreaking protocols that are fundamentally reshaping the global financial system.
Invest in N1H Property-backed SME Lending Fund with very outstanding track re...Ren H Wong
Property-backed high Yield SME Credit Fund
- Target return at 8% p.a for a 1-year lock-in or 10% p.a. for a 2-year lock-in
- Loans are made to asset strong Small and Medium Enterprises (SME) owners average loan size of approximately $500,000
- Low leverage ratio running on average less than 55%, maximum 70% on credit policy
- Rigid credit policy, Australian real estate security only, no owner-occupier properties, no risky constructions loans
- SME borrowers personal guarantee is required
- A diversified portfolio, your fund is not concentrated on a single borrower
DeFi Technologies builds and manages assets in the rapidly emerging decentralized financial market, providing institutional and retail investors easy access to previously unseen returns through innovative projects and groundbreaking protocols that are fundamentally reshaping the global financial system.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...beulahfernandes8
The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
The launch of the co-branded credit card, the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card, marks a major milestone for both entities.
This strategic move aims to redefine and elevate the banking experience for customers.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
Scope Of Macroeconomics introduction and basic theories
Steadfast Investor Day Presentation - Statewide Insurance
1. Steadfast Group Limited
ABN: 98 073 659 677 ACN: 073 659 677
Level 3, 99 Bathurst Street, Sydney NSW 2000
t 02 9495 6500 f 02 9495 6565 www.steadfast.com.au
STRENGTH WHEN YOU NEED IT
17 June 2015
Market Announcements Office
ASX Limited
Exchange Centre
20 Bridge Street
SYDNEY NSW 2000
Dear Sir
INVESTOR DAY PRESENTATION
Please see attached the Investor Day slides being presented today in Melbourne and in Sydney
on Friday 19 June.
Yours faithfully
Linda Ellis
Group Company Secretary & General Counsel
2. Steadfast, the Steadfast logos, Strength when you need it, None of us is as good as all of us, SVU and Steadfast Virtual Underwriter are registered trademarks of Steadfast Group Limited in Australia and other countries.
3. 2
Important notice
This presentation has been prepared by Steadfast Group Limited (“Steadfast”).
This presentation contains general information in summary form which is current as at 17 June 2015. This presentation is not a recommendation or advice in
relation to Steadfast or any product or service offered by Steadfast or its subsidiaries. It is not intended to be relied upon as advice to investors or potential
investors, and does not contain all information relevant or necessary for an investment decision or that would be required in a prospectus or product disclosure
statement prepared in accordance with the requirements of the Corporations Act 2001 (Cth). It should be read in conjunction with Steadfast’s other periodic and
continuous disclosure announcements filed with the Australian Securities Exchange, ASX Limited, and in particular the Steadfast 2014 Annual Report and the 31
December 2014 half year financial report. These disclosures are also available on Steadfast’s website at investor.steadfast.com.au.
No representation or warranty, express or implied, is made as to the accuracy, adequacy or reliability of any statements, estimates or opinions or other information
contained in this presentation. To the maximum extent permitted by law, Steadfast, its subsidiaries and their respective directors, officers, employees and agents
disclaim all liability and responsibility for any direct or indirect loss or damage which may be suffered by any recipient through use of or reliance on anything
contained in or omitted from this presentation. No recommendation is made as to how investors should make an investment decision. Investors must rely on their
own examination of Steadfast, including the merits and risks involved. Investors should consult with their own professional advisors in connection with any
acquisition of securities.
The information in this presentation remains subject to change without notice. No person is under any obligation to provide any recipient of this presentation with
any access to any additional information or to notify any recipient or any other person of any other matter arising or coming to its notice after the date of this
presentation.
The information in this presentation is for general information only. To the extent that certain statements contained in this presentation may constitute “forward-
looking statements” or statements about “future matters”, the information reflects Steadfast’s intent, belief or expectations at the date of this presentation.
Steadfast gives no undertaking to update this information over time (subject to legal or regulatory requirements). Any forward-looking statements, including
projections, guidance on future revenues, earnings and estimates, are provided as a general guide only and should not be relied upon as an indication or guarantee
of future performance. Forward-looking statements involve known and unknown risks, uncertainties and other factors that are outside Steadfast’s control and may
cause Steadfast’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by
these forward-looking statements. Any forward-looking statements, opinions and estimates in this presentation are based on assumptions and contingencies which
are subject to change without notice, as are statements about market and industry trends, which are based on interpretations of current market conditions. Neither
Steadfast, nor any other person, gives any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking
statements in this presentation will actually occur. In addition, please note that past performance is no guarantee or indication of future performance. Possible
factors that could cause our results or performance to differ materially from those expressed in our forward looking statements include the risk factors set out on
pages 30-32 of Steadfast 2014 Annual Report.
This presentation does not constitute an offer to issue or sell securities or other financial products in any jurisdiction. The distribution of this presentation outside
Australia may be restricted by law. Any recipient of this presentation outside Australia must seek advice on and observe any such restrictions. This presentation may
not be reproduced or published, in whole or in part, for any purpose without the prior written permission of Steadfast.
Local currencies have been used where possible. Prevailing current exchange rates have been used to convert local currency amounts into Australian dollars, where
appropriate. All references starting with “FY” refer to the financial year ended 30 June. For example, “FY15” refers to the year ended 30 June 2015. All references
starting with “1H FY” refer to the financial half year ended 31 December. For example, “1H FY15” refers to the half year ended 31 December 2014.
5. 4
Who we are
LARGEST GENERAL INSURANCE INTERMEDIARY
IN AUSTRALASIA1
• Service provider
306 broker businesses
22 underwriting agencies
• Equity participation
56 broker businesses
22 underwriting agencies
life broker
reinsurance broker
back office service provider
leading insurance legal practice
leading back office IT company
• Macquarie Pacific Funding
• Greenfield projects
Marine transit u/w agency
Emerging risks u/w agency
Offshoring
Note: 1. Measured by annual premiums placed (26% market share on a pro-forma basis in 2014); Source: Steadfast
and APRA Intermediated General Insurance Statistics, December 2014
76
Western
Australia
5
Northern
Territory
48
South
Australia
18
Tasmania
152
Queensland
192
New South
Wales
11
Canberra
174
Victoria
56
North
Island
14
South Island
1
Singapore
747
offices across
Australia,
New Zealand
& Singapore
6. 5
Business strategy
• Grow shareholder value
• Continue to enhance the services we provide to the Steadfast Network
• Build and develop strategic relationships with insurers and other parties
• Deliver synergies from our acquisitions made to date
• Grow from acquisitions
• Cross-sell existing and new products and services within the Steadfast Network
• Build on our existing underwriting agencies
7. 6
Our DNA
• Helplines: legal, technical, HR, IR, contractual liability
• Technical service team
• Triage process
• Best-in-class policies
• Internal legal expertise
• Model broker programme
• Training
• Open market choice
• Non restrictive panel providers
• Town Hall meetings
• Annual Steadfast Convention
• Ethics, efficacy and honesty
• We come from the “HOOD”
• Cultural and gender diversity
We help one
another.
“None of us is as
good as all of us.”
9. 8
Partners & Broker Services team
• Team
Executive General Manager
Broker Services Manager
Group Technical Manager
Broking Technical Manager
• We are people from the “HOOD” that link Steadfast Group, Strategic Partners and the
Steadfast Network
• KPIs
Continuing building and enhancing distribution relationships with insurer partners and
broader network
Achieving market best practice in policy wordings, service levels and remuneration
structure
11. 10
Guiding principles
CUSTOMER BROKER INSURER
Service Coverage Scale
Coverage Security Transaction efficiency
Security Ease of transaction Predictability
Peace of mind Remuneration Profitability
Training & compliance
12. 11
The Opportunity
SCALE DIVERSIFICATION GROWTH
$4.1b GWP in FY14
Largest insurer accounts for
~17%
Steadfast GWP growth above
industry average of 3%
$900m in business insurance
Steadfast members deal with
200+ insurance providers
New members
Steadfast members access
200+ broker services
Access to 22 Steadfast
Underwriting Agencies
M&A fee on expanded
product line
Steadfast Convention –
largest insurance networking
event in Australasia
Partnerships with 3 premium
funders including Macquarie
Pacific Funding
Steadfast Direct (personal
home & motor)
15. 14
Business Development
• New person / new role / old experience
• Team
Executive General Manager
Broker Development Manager 1
Broker Development Manager 2
Broker Collateral Marketing Manager
• Working closely with the Steadfast Network
• Goal – evaluate / assist / implement process for organic growth
16. 15
Deliverables
EXISTING CROSS SELLING NEW CLIENTS
• Segmentation
• Service reviews
• Net promotor scores
• Product marketing
• Product training
• Fees justification
• Business planning
• Lead generation
• Proposal templates
Organic growth initiatives via the 3 Ps and new & existing clients
simultaneously
PEOPLE PRODUCT PROCESS
• Identify people
• Sales upskilling
• Structure & reward
• Establish product pipeline • Business planning
• Pipeline management
• Celebrate success
17. 16
Roadmap
RESEARCH
Met with over
100 brokers &
gathered
feedback
BEST
PRACTICE
Brokers best
source,
formalise and
utilise
PLANNING
Work stream,
time frames,
resources &
budget
PILOT &
ASSESS
Choose brokers,
detail plans &
monitor ROI
ROLL OUT
Constant
communications,
make available
to entire network
Ensure best practice initiatives are successful before full roll out
19. 18
• Work directly with Managing Director & CEO to implement strategies for the Group
• Two current project examples:
1. Life insurance with Steadfast Life and MetLife
2. Steadfast Asia
Strategic Projects
20. 19
Steadfast Life / MetLife
Steadfast Life
• Provides Steadfast Network with a vehicle to offer life insurance products and services to their
client base
• Sit on the Board of Steadfast Life
Partnership with MetLife
• One of the world’s largest providers of life insurance
• Produced co-branded exclusive suite of tailored corporate life products
• Seeking a leadership position in the market of SME group life insurance in Australia
21. 20
Steadfast Asia
Explore and develop opportunities in Asia
• Establish Steadfast Asia broker network to service Australasian brokers in Asia
• Explore / evaluate / implement cluster network within Asia
• Consider equity positions in appropriate brokers within Asia
• Explore portability of our underwriting agencies, reinsurance broker and life broker into Asian
market
22. 21
Human Resources Strategy
To have a culture of excellence that drives
business performance and is a strategic
differentiator.
Create a highly engaged workforce that
delivers compelling customer experiences
every time.
Our values are more than just guidelines
on how we interact with each other today,
they are aligned with where the business is
going.
Vision
Mission
Values
500+ staff
8 businesses
11 locations
HR team of 8 to
manage Group and
Steadfast entities
23. 22
HR Strategic Pillars
Three Strategic Pillars: One HR, One Experience, One Culture
ONE HR
Integrate HR in Head
Office businesses
ONE Experience
Create the best company
people have worked for
ONE Culture
Ensure the customer is at
the heart of what we do
• Cost reductions achieved
through people and system
synergies
• Increased control on
people related matters
• Visibility of and access to
increased talent pool
• Cultural shift towards ‘One
Steadfast’
• Improved business
performance
• Easily attract top talent
• Employees providing
greater discretionary effort
• Nil loss of brokers due to
service issues
• Attract brokers to our
network
• Consistently high levels of
customer service displayed
everyday
• Our customer experience is
a strategic differentiator
24. 23
Human Resources
• Develop a culture of excellence that drives
business performance
Attract and retain quality people to deliver
on strategy
Engage workforce to deliver improved
business performance
• Succession Planning for organisation stability and
sustainability
Group
Equity investments
• Board / ASX / Acquisition HR due diligence
A company’s
ability to execute
its strategy
depends on having
great talent, fully
engaged and
behaving in the
right way.
25. 24
How HR adds value
• Work performed by HR is strategic in nature and
creates a structure that allows the business to
succeed
• Intimate knowledge of the business’s strategy
and the existing capabilities of the organization
• Organisations can lift performance by focusing
on people. Failing to do so will leave the
organisation exposed
• Strategy is executed by people!
HR builds
organizational
capability to
execute business
strategy
26. 25
Marketing
• Marketing for:
Steadfast Group
Broker Network
Steadfast Underwriting Agencies
Foundation
• B2B + B2C
• Team of 7 people
27. 26
Brand Strategy
• Expand brand awareness to grow Network Broker
business and in turn shareholder value
• Develop and promote the 22 separate brands
under Steadfast Underwriting Agencies
• Broker co-branding
• Support the community through Steadfast
Foundation
• Create brand equity
• Protect brand to remain reputable and strong
Brand strategy
brings your
competitive
positioning to
life
33. 32
Steadfast Direct
November 2014 Announced new line of retail insurance products –
Steadfast Direct
First two product offerings – home and motor
April 2015 Allan Reynolds appointed EGM Direct & New Zealand
End of April 2015 Steadfast Direct home and motor started piloting with six
brokers
June 2015 Pilot expanded to 15 brokers, feedback extremely encouraging
July 2015 Expected rollout to Steadfast Broker Network
34. 33
Rationale
• Protect SME Clients
• “Take back the farm”
• Competitively priced retail product
offering
• Grow revenue for Steadfast (M&A) and
brokers
• Targeting retail product offerings sold by
Steadfast Network (annual GWP of
$350m or 9% of total) but more
importantly new business
35. 34
Behind the scenes
• IT platform developed to sell Steadfast
Direct online initially through the brokers
and later directly to clients
• Exclusive to Steadfast Network
• End to end solution (from quote to policy)
36. 35
Roll out of Steadfast Direct
1. Steadfast Network Brokers
2. Direct to customers through the SVU platform
3. White labelling / affinity
4. New Zealand
5. New product offerings
37. 36
Steadfast New Zealand
April 2013 Acquired equity interest in Rothbury – top 5 broker in NZ
acquired 17.9% in April 2013 and a further 12.2% in August 2013
July 2014 Acquired Allied Insurance Group – 2nd largest GI network in NZ
October 2014 Allied rebranded Steadfast
April 2015 Acquired IC Frith New Zealand
April 2015 Allan Reynolds appointed EGM Direct & New Zealand
• 34 brokerages, 70 offices and annual GWP of ~$300m
• 10% intermediated market share
• Bruce Oughton, CEO NZ since April 2007 plus EGM – NZ, Technical Manager and
Administrative Assistant
History
Size
Structure
38. 37
Strategy
• New Zealand-ise Steadfast Australia platform
• Remain a leading market player through organic growth
• Create cross sell opportunities for Steadfast Underwriting Agencies
• Convert accretive acquisition opportunities
39. 38
Strategic initiatives
• Implemented Marketing & Administration (M&A)
fee model
• Strategic partners aligned to Steadfast
• Two additional brokers have joined Network since
Allied was purchased in July 2014
Strong
progress made
over 12
months
43. 42
Data collation
• Scalable
• No business disruption – new acquisitions feed into existing infrastructure
• Monthly data collection – full trial balance of each entity, GWP data
• Semi annual collection – GWP data from non-owned Network Brokers
• Full analysis capability to undertake monthly review and identify key trends of actual
performance against prior year, budget and forecasts
• Global flexibility – offshoring enabled
44. 43
Benchmarking
• Financial data from all network brokers
• Data is normalised to compare like for like
• Brokers receive a pack which highlights their
performance on various metrics, and compared
their performance against the following
categories:
− Size band
− Group as a whole
− State
− Metro or Regional-based
• Comparison to prior periods to identify trends for
each broker and for all users to further
understand industry thematics
Average profit margin
xx.x%
Average F&C as %
of Base Premium
xx.x%
Average Revenue per
Principal & AM’s
$xxxk
Average Profit per
Principal & AM’s
$xxxk
45. 44
Example of benchmarking (not real data)
0
100
200
300
400
500
Your Average
FY13-FY14
Size Band
Average FY13-
FY14
Group Average
FY13-FY14
State Average
FY13-FY14
Metro Average
FY13-FY14
$’000’s
Revenue per Principal & Account Managers FY13-FY14
$’000’s
Employee Costs as % of Revenue FY13-FY14
40.0%
41.0%
42.0%
43.0%
44.0%
45.0%
46.0%
47.0%
Your Average
FY13-FY14
Size Band
Average FY13-
FY14
Group
Average FY13-
FY14
State Average
FY13-FY14
Metro Average
FY13-FY14
Profit per Principal & Account Managers FY13-FY14 Profit margin FY13-FY14
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
35.0%
Your Average
FY13-FY14
Size Band
Average FY13-
FY14
Group
Average FY13-
FY14
State Average
FY13-FY14
Metro Average
FY13-FY14
0
20
40
60
80
100
120
140
Your Average
FY13-FY14
Size Band
Average FY13-
FY14
Group Average
FY13-FY14
State Average
FY13-FY14
Metro Average
FY13-FY14
46. 45
Risk analysis
• Risk Heat Map reviewed continuously and all key risk areas monitored by CRO
• Internal audit review of all entities on rolling cycle
• Broad coverage – financial, operational and governance issues
• Complements monthly analytics
• Complements annual external audit procedures
• Includes AFSL compliance measures in each licensee
• Identifies “best practice” and “process improvements” measures to create further
synergies or strengthen back office across all businesses
48. 47
Operations and Acquisitions team
• Team of six, including two working directly with brokers
• Focus on:
Source and perform diligence on potential acquisitions both inside and outside
the network
Transition the new entities into the SDF operating company
Support mergers and hubs within our current entities which drives operational
improvement
Acquisitions
Transitions
Mergers & Hubs
50. 49
11 bolt-ons since IPO
Steadfast Network Broker Bolt-on
Centrewest Logiudice
Finn Foster Mooneys Insurance Brokers
Regional Insurance Brokers
AIS Insurance – Brisbane
Ausure Brisbane
Les Wigginton
Brecknock Insurance Brokers
VFP Insurance Brokers
McLardy McShane
McIntyre
King
Rothbury Wilkinson Insurance Brokers
NCIB IMC Trade Credit Solutions
Melbourne Insurance Brokers C. & M. Hammond
51. 50
Disciplined process and criteria
Meet with potential partners to evaluate cultural and strategic fit
Discuss the Principal’s vision, motivations to sell and timing
Can Steadfast as a partner add value to the business?
Can we merge with an existing entity/become a Corporate AR?
Analyse the financials and propose a non-binding valuation
Perform due diligence incl. financial, legal & tax
Close the deal
Transition the business into the family
1.
2.
3.
4.
5.
6.
7.
8.
52. 51
Not afraid to walk away
We view numerous deals that do not complete with the primary reasons being:
1. Culturally incompatible
2. Vendor expectations too high
3. Not part of our core business
4. Endless negotiation and deal fatigue
5. Margins too low
53. 52
Mergers and Hubs
• Hubs established in six states
• 25 entities merged into 8 platforms
• On track to deliver 7% EBITA margin
improvement for Hubs by FY17
Sydney
6 into 2 hubs
60% owned
100% owned
Brisbane
3 into 1 hub
64% owned
Melbourne
5 into 1 hub
83% owned
Adelaide
5 into 2 hubs
71% owned
100% owned
Perth
3 brokers into 1
67% owned
Tasmania
3 into 1 hub
71% owned
Note: Ownership date effective as at 1 June 2015.
55. 54
Centralised functions
• 306 broker businesses
• 22 underwriting agencies
• Ancillary businesses
• All with common reporting needs
• Centralised functions, create scale and
EFFICIENCY
• Offshore markets = HIGH QUALITY
CANDIDATES at a reasonable cost
• Expand services to brokers = efficiency
gain and COST CONTAINMENT
RATIONALE POTENTIAL
56. 55
Moving offshore
PHILIPPINES
• Transactional claims handling
• Global Shared Services Centre of QBE
VIETNAM
• Finance, marketing, and IT
• Partnering with an established 3rd party
who are providing infrastructure and basic
HR oversight for our dedicated employees
57. 56
How?
• Transfer of functions controlled and
progressive
• Well documented and standardised
processes
• Interaction with group entities remains
with local team
• Data and systems remain in Australia /
in the cloud
• Oversight of offshore staff managed
locally
• Finance – accounts payable,
reconciliations and management
accounts preparation
• Marketing – graphic design,
websites, promotional material,
printing
• IT – software developers (supervised
by Steadfast Technologies)
• Claims – Transactional Claims
Processing
AREAS OF EXPERTISE OUR APPROACH
58. 57
Timing of benefits
• Offshore roles are a small part of our current operations
• Implementation underway in 2015 calendar year
• Benefits won’t be realised until FY17
62. 61
22 agencies
Strong focus on
SME insurance programs
Hard-to-place and
complex risks including
environmental liability
Marine and
motorcycle
Building and
construction industry
Sports and leisure
related businesses
Specialised equipment,
tradesmen & small business
and marine transit
Community care,
entertainment &
hospitality, and security
Professionals including
engineers, architects and
doctors
Hospitality, leisure and
entertainment sector
Hard-to-place risks,
exclusive to Steadfast
Network Brokers
Residential and
commercial strata
Mobile plant and
equipment
Home and contents for
owner occupied homes
Complete farm package Personal accident and
sickness, and travel
High value homes
Stand alone cash flow
insurance focus on SME
Specialist/exotic motorcar
and motorcycle
NSW Builders warranty
Property insurance Income protection Emerging risks
64. 63
• Consistent Acquisition Process
• M&A Team working with Underwriting Team
• Efficient Transition to Steadfast
• Strong Operational Team
• Developing Strong Core Values
• Believe in Brand Strength
Agency strategy
67. 66
Business strategy
• Grow shareholder value All
• Continue to enhance the services we provide to the Steadfast
Network
Nick, Adrian, Sam, Allan,
Stephen, Simon
• Build and develop strategic relationships with insurers and other
parties
Nick, Adrian, Allan
• Deliver synergies from our acquisitions made to date Dana, Peter, Stephen
• Grow from acquisitions Dana, Simon
• Cross-sell existing and new products and services within the
Steadfast Network
Adrian, Sam, Simon
• Build on our existing underwriting agencies Simon
• Expand Macquarie Pacific Funding / Steadfast Re / Meridian
Lawyers
All
• Roll out IT systems Steadfast Technologies
70. 69
Executive Management Team
Robert Kelly, Managing Director & Chief Executive Officer
Robert co-founded Steadfast and has over 45 years’ experience in the insurance industry. He was named equal first Most Influential Person in Insurance
by Insurance News in 2015 and awarded the ACORD Rainmaker Award in 2014, a special honour presented to organizations and individuals that have
shown outstanding achievements in the advancement of standards for the insurance industry. Robert is a Qualified Practicing Insurance Broker, a Fellow
of NIBA, a Senior Associate Certified Insurance Professional and holds a Diploma in Financial Services and in Occupational Health and Safety, and a
Graduate Diploma in Australian Risk Management.
Linda Ellis, Group Company Secretary & General Counsel
Linda joined Steadfast in 2013 and works closely with the Board as Company Secretary and oversees and identifies the legal issues of the Group. She is
a lawyer with over 15 years’ experience at international law firms including Mallesons Stephen Jaques (now King & Wood Mallesons), Atanaskovic
Hartnell and Clifford Chance. Linda has diverse experience in corporate and commercial law, including mergers and acquisitions, capital markets and
corporate governance. She is admitted to practice as a solicitor of the Supreme Court of NSW.
Samantha Hollman, Executive General Manager – Projects, Brand, People
Sam joined Steadfast in 2000 and has more than 20 years’ experience in the insurance industry. She has held key roles in broker services, project
management, and marketing & communications. Sam works closely with the Managing Director & CEO, implementing strategic initiatives for the Group,
including marketing trips overseas to review these projects on an international level. She also oversees Human Resources and Marketing for the Group.
Stephen Humphrys, Chief Financial Officer
Stephen joined Steadfast in 2013 but had previous experience working with Steadfast as Managing Director of Moore Stephens Sydney. He has over 25
years’ experience as a Chartered Accountant and extensive experience in acquisitions and integrations. As Managing Director of Moore Stephens Sydney
for 10 years and Chairman of Moore Stephens Australasia for three, Stephen played a key role in placing Moore Stephens into the top 10 accounting
firms in Australia. Stephen is a Fellow of the Institute of Chartered Accountants and a registered tax agent.
Allan Reynolds, Executive General Manager – Direct & New Zealand
Allan joined Steadfast in 2002 and in April 2015 took on the Direct and New Zealand portfolios. Previous to that Allan oversaw broker products and
services, strategic partner relationships, and equity brokers. With a background in product development and distribution, corporate strategy and portfolio
management, Allan has more than 40 years of industry experience in general insurance. He holds a Diploma of Business Studies (Insurance), is a
Certified Insurance Professional and is a Fellow, honorary member and was recently appointed a Board member of ANZIIF.
Peter Roberts, Executive General Manager - Integration Synergies
Peter joined Steadfast in 2013 and is establishing and developing centralised back office services within the Group. Peter has been Managing Director of
White Outsourcing since it formed in 2005. He is also company secretary of three listed investment companies and Macquarie Pacific Funding. Peter
commenced his career in accounting with KPMG, is a member of Institute of Chartered Accountants and has over 25 years’ experience in accounting and
back office services to the financial services sector.
71. 70
Executive Management Team
Dana Williams, Chief Operating Officer
Dana joined Steadfast in January 2014 and was promoted to COO in June 2014. Her focus is on working with Steadfast equity brokers to improve their
operations, as well as acquisitions including due diligence and integration. Dana has 25 years’ business experience, including 15 in brokerage, insurance,
reinsurance and underwriting agencies. She has held senior roles at Hub International and Marsh, holds a Bachelor of Engineering and an MBA, and is a
Certified Public Accountant.
JOINING THE EXECUTIVE MANAGEMENT TEAM EFFECTIVE 1 JULY 2015
Nick Cook, Executive General Manager – Partner & Broker Services
Nick joined Steadfast in February 2015 to focus on developing and building relationships with Strategic Partners including insurance companies, and
enhancing services provided to Steadfast Network Brokers. Nick has over 25 years’ experience at Zurich Financial Services including three as the Head of
Customer & Proposition Development (where he was responsible for the development of Zurich products & propositions in the marketplace) and nine
years as a distribution manager. He has an Associate ANZIFF membership and has graduated from both the AGSM Leadership Program and the Prosci
Organisational Change Management Program.
Adrian Humphreys, Executive General Manager – Business Development
Adrian joined Steadfast in January 2015 focusing on driving and supporting organic growth across Steadfast Network Brokers. Adrian was previously
Managing Director of Lloyd’s Australia where he grew the business by 84% from $1.1 billion to over $2 billion in under five years whilst increasing the
number of agencies. He has over 10 years’ experience in the insurance industry, working for both Lloyd’s of London and Aon UK. Prior to insurance,
Adrian worked at KPMG Financial Services.
Duncan Ramsay, Senior Corporate Lawyer
Duncan joined Steadfast in June 2014 and focuses on the legal aspects of acquisitions and operations. His previous role was General Counsel and
Company Secretary at QBE Insurance Group where he worked for over 20 years. He was also a director or company secretary of a number of QBE
controlled entities and acted as the chairman of the policy committee and a trustee respectively of QBE sponsored superannuation plans in Australia and
New Zealand. Duncan’s legal career commenced in 1986 with Freehills (now Herbert Smith Freehills), where he specialised in general commercial work
and litigation.
STEADFAST UNDERWRITING AGENCIES
Simon Lightbody, CEO of Steadfast Underwriting Agencies
Simon became CEO of Steadfast Underwriting Agencies in April 2015 and has been part of Steadfast for over 10 years. Simon has worked in the
insurance industry for 25 years in both the UK (as an underwriter at Lloyd's of London) and Australia, including nine years within his own business,
Miramar Underwriting Agency (Miramar). Steadfast entered into the underwriting agency market in 2005 as a 50% joint venture partner of Miramar and
as part of the IPO acquired the remaining balance.