Strength in uncertain times

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through our combined strength creating exceptional. value for our shareholders,OUR MISSION,As a united group we aim to create wealth for our. shareholders by assisting our aligned businesses,to grow and succeed. 2 2012 Financial Highlights,3 Chairman and CEO s Report. 4 Our Board,7 Our Executive Team,8 Our Steadfast Brokers and Strategic Partners. 9 Group Performance Analysis,10 Broker Services,14 Steadfast Virtual Underwriter.
15 Our Joint Venture Partners,16 The Steadfast Convention. 17 The Steadfast Foundation,18 Corporate Governance. 19 Next Steps,21 Directors Report,30 Financial Report. 61 I ndependent,Auditor s Report,2012 Financial Highlights. Average organic growth per annum over 5 years,Organic growth per year.
Average organic growth per annum over 5 years,Revenue by Insurance Products. Commercial Insurance 26,Householders 16,Industrial Special Risk 11. Commercial Motor Vehicle 11,Professional Indemnity 9. Liability 7,Construction Engineering 5,Marine Insurance 5. Private Motor Vehicle 4,Rural Pack 2,Accident Health Travel 2.
Revenue Categories,Insurance 56,Other Income 24,Premium Funding 11. Dividends 9,2 STEADFAST ANNUAL REPORT 2012,Chairman and CEO s Report. The 2012 financial year saw Steadfast continue,to achieve strong growth in an uncertain. economic environment Now we are ready,Legal Advice and Technical. Assistance support services,Ongoing regulatory change.
to build on that growth and realise greater has also led more brokers to. rewards for our broker s businesses by making use our Human Resources. the transition to an ASX listed company and Industrial Relations. helpline We will continue,It s been another exciting year for Steadfast. to support our brokers to,with a string of notable achievements We ve. achieve the best possible,continued to enjoy sustained organic growth. outcomes for their,of around 9 6 a year driven both by an. businesses and,increase in the number of broker businesses in.
their clients,our network and by sustained growth within. those businesses As a result we ve expanded, our network our sales and our profitability Listing on. achieving a record 22 5 million in revenue the Australian. Our success reflects both the quality of our Securities. individual broker businesses and the benefits Exchange. of a diversified national strategy With more, than 400 offices spanning local markets At the Steadfast. across the country each with its own distinct Convention in March. demographic features we can benefit from our shareholders. whichever industry state or local economy overwhelmingly endorsed. is performing most strongly at any time the Board s plan to seek. This will allow us to continue to grow in the listing on the Australian. future despite the ongoing structural changes Securities Exchange ASX in. affecting the Australian economy as a whole 2013 It s an exciting stage in. the company s development,and an important mechanism. A year of change for funding continued growth, This year has seen further consolidation while creating new value for.
within the insurance industry with merger the shareholders who are the. and acquisition activity across the broker foundation of our success. market including consolidation within our,broker base Insurers have also come under. renewed scrutiny from investors with profits,under pressure from a combination of. above forecast claims and subdued,investment returns. At Steadfast we have been fortunate in that,all of our underwriting partners continue to be. profitable and financially strong thanks to the,underlying quality of their businesses We also.
have an outstanding record of meeting our,clients claims including claims in high profile. areas like flood cover,Nonetheless our brokers have been affected. by the difficult environment Among other,trends we ve observed a higher number. of claims going to Triage our process, for seeking a review of claims that have Robert Kelly. been denied and increased use of our Chairman and CEO. STEADFAST ANNUAL REPORT 2012 3, Our Board is comprised of insurance industry professionals.
with extensive experience in underwriting insurance. distribution and risk management,Robert Bernard Kelly. Executive Chairman and Chief Executive Officer, With more than 43 years of experience in the insurance industry Robert has. held senior roles as a Risk Manager General Insurance Broker and Underwriting. Agent He was named Insurance Industry Leader of the Year at the 2011 Annual. Australian Insurance Industry Awards Robert is a Qualified Practising Insurance. Broker and a Fellow of the National Insurance Brokers Association NIBA. He is a Senior Associate of ANZIIF Certified Insurance Professional and holds. a Diploma of Financial Services Insurance Broking He also has a Diploma in. Occupational Health and Safety and a Graduate Diploma in Australian. Risk Management,Gregory John Rynenberg,Deputy Chairman and Non Executive Director. Greg brings 35 years of experience in the general insurance broking industry. to the Board with 28 years spent running his own business He is a Qualified. Practising Insurance Broker Fellow of NIBA and an Associate of ANZIIF. He holds an Advanced Diploma in Financial Services Insurance Broking. Christopher Dennis Baker,Non Executive Director, Chris has 35 years in general insurance broking running his own business. for 26 years He has a Diploma of Financial Services Insurance Broking. and a Diploma in Front Line Management He is also a Certified Insurance. Professional and Qualified Practising Insurance Broker He is a member. of NIBA and a Senior Associate of ANZIIF,Cameron Jon Bott.
Non Executive Director, With more than 21 years in general insurance Cameron has gained valuable. experience working in senior roles with the industry s leading organisations. For the past 8 years he has been Principal and Managing Director of his. own business Cameron is a Qualified Practising Insurance Broker and. Fellow of ANZIIF,4 STEADFAST ANNUAL REPORT 2012,Michael Vsevolod Olofinsky. Non Executive Director, For 42 years Mike has been associated with the insurance industry He is a. Qualified Practising Insurance Broker and an Associate of ANZIIF. Richard John Post,Non Executive Director, Since 1980 Rick has been involved in the insurance industry becoming an. insurance broker in 1997 He is a Qualified Practising Insurance Broker and. holds a Diploma of Financial Services Insurance Broking. Shayne Douglas Smith,Non Executive Director, Shayne has over 40 years experience in the general insurance industry and.
was principal of his own business from 1983 Shayne holds a Diploma of. Financial Services Insurance Broking a QPIB FAICD Dip and an AAII CIP. He also served on the NIBA Board for 5 years,Graham John Stevens. Non Executive Director, Graham has more than 42 years of experience in the insurance industry. He is a Qualified Practising Insurance Broker and holds a Diploma of Financial. Services Insurance Broking He is also a Board member of NIBA. STEADFAST ANNUAL REPORT 2012 5,Our Board continued. Gregory Paul Stewart,Non Executive Director, Greg has been associated with the insurance industry for over 20 years. He holds a Diploma of Financial Services Insurance Broking. Jonathan Noble Upton,Non Executive Director, Jonathan has 40 years in the general and life insurance broking industry.
34 years of those in his own business He is a Qualified Practising Insurance. Broker QPIB an Associate of NIBA an Associate Fellow of The Australian. Institute of Management AFAIM and holds a Diploma of Financial Services. Insurance Broking He is also a Justice of the Peace. Joseph George Vella,Non Executive Director, A Qualified Practising Insurance Broker Joe has been associated with the. insurance industry for more than 35 years He holds a Diploma of Financial. Services Insurance Broking He is also an Associate of NIBA and ANZIIF and. Honorary Consul for Malta in the State of Queensland. John David Frederick Rick Wolozny,Non Executive Director. Rick has more than 38 years of experience in the insurance industry He is a. Qualified Practising Insurance Broker and an Associate of ANZIIF. 6 STEADFAST ANNUAL REPORT 2012,Our Executive Team,Our executives have been selected for their. extensive experience strategic acumen and proven,leadership capabilities. Cameron McCullagh,Executive Director Strategy and Corporate Actions.
Cameron trained as a Chartered Accountant completing his professional year with KPMG. He has held managerial and directors positions for the last 12 years and has 30 years of business. experience Before joining Steadfast in 2011 Cameron was CEO of Employers Mutual where he. increased premiums under management from around 100 million to approximately 1 billion. per annum Cameron is a Director of Hotel Employers Mutual Managing Director of ASWIG. Management and Chairman of Leading Edge Group and White Outsourcing. Allan Reynolds,Executive General Manager, With 38 years of industry experience Allan is a highly qualified insurance professional with. a background in product development and distribution corporate strategy and portfolio. management He joined Steadfast in 2002 and is currently Executive General Manager Allan. holds a Diploma of Business Studies Insurance and a Diploma of Strategic Management He is. a Certified Insurance Professional and a Fellow of the Australian and New Zealand Institute of. Insurance and Finance,Jenny Varley,Company Secretary. Jenny has 29 years experience in finance and accounting administration and HR roles in a. variety of industries including information services insurance financial services and legal. services She joined Steadfast in 2002 Jenny is Company Secretary for Steadfast Group Limited. Steadfast s operating subsidiary companies and Macquarie Premium Funding Pty Ltd Jenny holds. an Associate Diploma Business Accounting and is currently attaining a Graduate Diploma in. Corporate Governance Chartered Secretaries Australia Jenny is also a Justice of the Peace. Samantha Hollman,Strategic Projects Executive, Samantha has 18 years experience in the insurance industry She joined Steadfast in 2000. holding key roles in broker services project management and marketing and communications. During the last 5 years Sam has worked closely with the Chairman CEO and Board. implementing strategic initiatives for the Group including marketing trips to the UK and. North America to review these projects on an international level. Graham Cassidy,Marketing and Relationships Manager. Graham has over 33 years experience in the insurance industry starting with CIC Melbourne. and Zurich in 1979 He joined Steadfast in 2006 Graham holds a Diploma in Financial Planning. and two Diplomas in Financial Services Insurance Broking and Risk Management He is also. a Certified Insurance Professional and a Fellow of the Australian and New Zealand Institute of. Insurance and Finance,Niels Laaper,CEO Steadfast Hub Pty Ltd.
Niels is a highly experienced IT executive with over 17 years experience As well as co founding. two consumer electronics brands with an international profile he has held roles as CEO and. director with several IT consulting and electronics companies Niels joined the Steadfast Group. as CEO of Steadfast Hub in 2010 overseeing the operations and development of the Steadfast. Virtual Underwriter,STEADFAST ANNUAL REPORT 2012 7. Our Brokers Our Strategic Partners, Our broker network covers Our network of 59 Strategic. strategic locations across Partners includes some of. Australia offering an the world s leading names, unrivalled range of tailored in insurance Here are some. insurance products and of the most familiar,services in the following. industry sectors,Health aged care,Top 10 Strategic Partners across Australia.
Hospitality and food services,Manufacturing construction. Professional services,Rural farming,Wholesale retail. Insurance Products Offered by Premium,Commercial 32. Liability 10,Professional Risks 9,Statutory Covers 9 part of Wesfarmers Insurance. Home Contents 9,Construction Engineering 4,Marine Aviation 3.
Accident Health 3,8 STEADFAST ANNUAL REPORT 2012,QBE Commercial Insurance. CGU Householders,Vero Industrial Special Risk,Allianz Commercial Motor. Professional Indemnity,Revenue by Insurance Product. Zurich Liability,Revenue by Major Insurance Provider. Chubb Construction Engineering,Private Motor,Rural Pack.
Global Transport,Accident Health Travel,Group Performance Analysis. growth and a high performance culture,Associated Marine. SRS Macquarie Premium Funding,Pacific Premium Funding. Hunter Premium Funding,Lumley Premium Finance,Revenue by Premium Funder. years Steadfast has established a reputation for sustained. STEADFAST IS AUSTRALIA S LARGEST NETWORK OF INDEPENDENT INSURANCE BROKERS WITH MORE THAN 400 BROKER OFFICES ACROSS AUSTRALIA OUR VISION To enhance the value of Steadfast aligned businesses through our combined strength creating exceptional value for our shareholders OUR MISSION As a united group we aim to create wealth for our shareholders by assisting our aligned businesses to grow and

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