Steadfast Group has become a member of the Council of Insurance Agents & Brokers (CIAB), a Washington, DC-based trade association whose membership collectively handles the bulk of commercial insurance placements in the US. The admission, announced May 14, makes Steadfast one of a handful of non-US firms in the organisation’s ranks. Two other firms joined alongside Steadfast: GIS Benefits, an employee benefits agency based in Morris, Illinois, and Balavant Insurance Group, a managing general agent platform headquartered in Novato, California. The three bring the CIAB’s 2026 intake to nine new members.
The CIAB traces its origins to 1913 and today represents around 200 commercial insurance and employee benefits brokerages. Its members account for approximately 85% of US commercial property and casualty premium placements each year. More than a fifth of its member firms are based outside the US, reflecting a deliberate push toward international representation. CIAB president and CEO Joel Wood framed the latest additions in terms of the diversity they bring to the association’s membership base. “The council is stronger when firms serving diverse sectors and geographies are part of the conversation, so we’re very pleased to bring GIS Benefits, Steadfast, and Balavant into the fold to be a part of those discussions,” Wood said.
Steadfast operates broker and agency networks across Australia, New Zealand, Singapore, and the US, where it runs the ISU Steadfast network. The group places around $25 billion in GWP each year across those markets and holds majority stakes in 31 underwriting agencies. It also has a controlling interest in UnisonSteadfast, a global broker network, and runs a Lloyd’s broking operation out of London, with offices in Greece, France, and Australia. The CIAB membership arrives at a point when Steadfast has been expanding its international presence. The group’s international division reported growth in the first half of FY26 driven by the acquisitions of HWS Specialty and Novum Underwriting Partners, as well as organic growth in the ISU Steadfast network and the consolidation of Steadfast Placements with HWS Specialty.
Separate from the membership announcement, Steadfast reported its results for the six months to Dec. 31, 2025 (1H26), in February. Underlying revenue reached US$1.01 billion, up 14.6% on the prior corresponding period. Underlying EBITA rose 12.6% to US$293.6 million, driven by efficiency measures across subsidiaries, acquisition contributions, and cost management at the group level. Underlying NPAT came to US$137.5 million, up 7.3%, while underlying NPATA – which strips out the amortisation of acquired intangibles – rose 6.3% to US$161.5 million. Statutory NPAT, which includes non-trading items, was US$127.0 million, compared with US$106.4 million a year earlier.
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Within Australia and New Zealand, the broker network generated GWP of US$6.4 billion for the half, a 4.4% increase. Underlying EBITA for the network grew 13.0%, with 11.7% of that attributable to step-ups and bolt-on acquisitions within existing equity brokers. The group is continuing to consolidate broker operations under a hubbing model designed to reduce duplication and improve margins. The underwriting agencies arm wrote US$1.2 billion in GWP, up 3.0% from the same period a year earlier, with underlying EBITA of US$112.7 million. Management noted that measures taken during the half are expected to carry into a firmer second-half performance. The international division moved from a loss position to an underlying EBITA of US$9.5 million, a swing of US$10.1 million, underpinned by the US acquisitions and organic growth across the ISU network.
