The broker network said that the first quarter of the new financial year has gone according to plan as the business reaffirmed its financial position.
“Based on a first quarter that is in line with our budget and prevailing flat market conditions, we are re-affirming our guidance for FY17,” Robert Kelly, managing director and CEO of Steadfast, told shareholders.
“As we have been saying for the past 12 months, we expect to see price increases and further signs of a hardening market around the June 2017 renewal period as insurance companies need to address their declining profits and unsustainable pricing.”
Celebrating its 20th year, Kelly said that network will look to “new frontiers of client service” in a bid to “revolutionise” services provided to both network brokers and strategic partners.
Steadfast will look to further develop its proprietary IT systems and rollout its client trading platform whilst accessing new insurance capacity with its Lloyd’s ‘super binder,’ Kelly said. The business will also look to develop further in both New Zealand and Asia as it looks for further growth.
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