Understanding insurance broking | Value Investing News

Understanding insurance broking

  • You may not be too familiar with Steadfast Group (ASX: SDF) and AUB Group (ASX: AUB), but these insurance brokers are high quality businesses in an industry with high barriers to entry.
  • So much so, that 97 per cent of commercial lines are done through an intermediary (such as a broker).
  • Steadfast is Australia’s largest network of such insurance brokers (about 30 per cent market share), and AUB Group the second largest (25 per cent inc IBNA).
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