Steadfast Group (SDF) Investor Day 2024 summary

International expansion and strategy

• Formalised international executive team with new CEO, COO, and CFO roles to drive global growth, with dedicated leadership and teams in place since 2015.

• Expanded presence in the USA, Germany, London, Singapore, and New Zealand, with tailored strategies and a 60% stake in UnisonSteadfast and full acquisition of ISU Group in the US.

• US market entry offers significant scale, targeting the $213b broker/agency market and over 40,000 independent agents, with ISU Group focusing on membership growth, expanded services, and organisational evolution, prioritising quality and retention.

• Technology and 'trapped capital' equity investments are key differentiators for US growth, with disciplined, long-term approach leveraging positive market dynamics and M&A opportunities.

• US strategy centers on growing membership, expanding services, and evolving organizational structure, with quality over quantity.

Financial guidance and capital allocation

• US is the primary focus for capital deployment over the next three years, with London also targeted for expansion, and no predefined capital allocation for US; investments evaluated case by case.

• ISU Group is self-sustaining and does not require additional capital support for operations.

• Capital allocation decisions prioritize EPS accretion and strategic fit, with US investments currently a small portion of earnings.

• Focus on expanding broker networks and underwriting agencies in chosen geographies, supported by a strong balance sheet.

• Trapped capital acquisition pipeline in APAC and robust M&A activity in the US support long-term growth.

Business developments and operational improvements

• Steadfast Placements in London and Unison Steadfast in Germany provide global placement and network capabilities.

• New Zealand and Singapore networks continue to grow, leveraging technology platforms like SCTP and Insight, with SCTP GWP reaching $1.4b in FY24.

• Sure Insurance, acquired in Nov 2023, is a leading home and contents insurer in regional Queensland, leveraging data-driven pricing, strong brand, and scalable systems for national expansion.

• IQumulate Premium Funding targets 10%+ annual revenue growth in AU/NZ, focusing on operational efficiency and exploring US market opportunities.

• Gold Seal/Goldseal enhances compliance, training, and HR support across the network, with high engagement in new learning platforms and support for regulatory and operational excellence.