Steadfast Group Limited · ASX:SDF
Steadfast — Shareholder Meeting (October 2014)
12 slides from Steadfast's shareholder meeting presentation, Oct 29, 2014
Slide 1: 2014 Annual General Meeting
2014 Annual General Meeting 29 October 2014
Slide 2: Managing Director & CEO Robert Kelly
Managing Director & CEO Robert Kelly
Slide 3: Our business
Our business LARGEST GENERAL INSURANCE BROKER 500 NETWORK IN AUSTRALASIA 1 offices across • Service provider Australia, to 306 broker businesses in 1 New Zealand Singapore Australia, New Zealand and and Singapore and 9 underwriting agencies with annual billings of 5 93 Singapore 02 Metro over $5 bil
Slide 4: FY14 highlights
FY14 highlights • Maintained market leading broker network position in Australasia • Steadfast Network Broker GWP of $4.1 billion, up 5% • Pro-forma Network GWP of $4.5 billion including Steadfast’s nine underwriting agencies and Steadfast in New Zealand, formerly Allied Insurance Group • Exceeded I
Slide 5: FY14 earnings resilience
FY14 earnings resilience 18% 17.3% Steadfast’s rise in 2.3% 16% 14% acquisitions & hubbing profitability is not 12% dependant on 10% 8% 7.4% 15.0% organic premium rate 6% rises 4% 2.8% 2% 0.9% -0.7% 0% Price Broker GWP Organic F&C M&A NPATA -2% growth • Despite decline in premium rates, Steadfast sh
Slide 6: Steadfast Network Brokers
Steadfast Network Brokers • 306 Network Brokers (including 54 equity owned brokers) generate annual GWP of $4.1 billion • Natural acquirer of equity interests in Network Brokers Steadfast is the • All brokers treated equally LARGEST • Services paid for by Marketing & Administration (M&A) general ins
Slide 7: Steadfast Underwriting Agencies
Steadfast Underwriting Agencies • Nine underwriting agencies (including three post IPO acquisitions) generate annual GWP of over $200 million • Each agency focuses on a different specific market Steadfast is one segment with their own brand of the largest • Agencies distribute products through Stead
Slide 8: Macquarie Pacific Funding
Macquarie Pacific Funding • Steadfast and Macquarie Bank 50/50 joint venture • $1.5 billion GWP funded in FY14 Macquarie Pacific • 50% of MPF volume sold through Steadfast Network Brokers Funding is one of • Key initiatives: Domestic Funding product (for personal the largest lines insurance), online
Slide 9: Calliden acquisition proposal
Calliden acquisition proposal • Scheme of arrangement to acquire eight underwriting agencies for net $55m • • ARGIS Farmpack Builders’ Warranty First Court date • • Calliden Home Dawesmotor scheduled for 31 • • IUA business interruption Mansions October; • Accident and Health estimated completion •
Slide 10: Acquisition pipeline
Acquisition pipeline • Strong pipeline of potential acquisitions • Strict criteria being followed. Acquisitions must be Natural acquirer of EPS accretive to shareholders within the first 12 further interests in months Steadfast Network • Brokers and underwriting agencies are our prime Brokers and a
Slide 11: FY15 outlook
FY15 outlook • First quarter showed flat GWP growth and slight rise in fees & commissions • FY15 cash EPS growth guidance of 10% to 13% (excluding Calliden) remains unchanged due to strong growth expected from post IPO acquisitions and operating margin improvements • Calliden expected to generate 10
Slide 12: Important notice
Important notice This presentation contains general information in summary form which is current as at 29 October 2014. This presentation is not a recommendation or advice in relation to Steadfast Group Limited (“Steadfast”) or any product or service offered by Steadfast’s subsidiaries. It is not in