Steadfast Group's internal and independent review update

Steadfast Group (ASX:SDF), a leading insurance broking and underwriting company, has updated its internal review on its large specialist strata broker and underwriting agency subsidiaries. The review aims to enhance transparency and governance in response to investor inquiries and concerns. An independent evaluation by John Trowbridge was conducted to review Steadfast's Operating Expectations.

Steadfast Group's strategic review and future plans

Steadfast Group has undertaken an internal review with an independent assessment to ensure ethical practices within its strata insurance operations. The review, led by John Trowbridge, focused on enhancing their Operating Expectations to promote transparency and reduce conflicts of interest. These new standards aim to improve transparency in disclosure, remuneration, and conflict management. Steadfast found no evidence of channeling incentives or deliberate regulatory non-compliance. The company is set to fully implement these Operating Expectations by the end of 2024 and extend them to related entities by mid-2025. This move aligns with industry trends towards better governance and customer protection. Steadfast's decentralized model ensures competitive, independent operations while maintaining ethical standards.

Executive insights on Steadfast's transparency efforts

The Operating Expectations should significantly improve transparency and are seen as a step forward in meeting customer expectations.