Steadfast Life acquires 50% stake in Corporate Risk Services

Steadfast Life, the life insurance advisory company of insurance giant Steadfast Group, has acquired a 50% stake in Corporate Risk Holdings (CRH), which operates under the trading name Corporate Risk Services (CRS).

CRS is a national boutique financial services company that provides professional, strategic advice to help its clients improve their financial position and manage the risk associated with their businesses – human assets. It specialises in providing professional advice on group risk issues to employers and has established itself as one of Australia’s leading group insurance specialists in the medium-to-large employer segment.

David Wilson, managing director of CRS, said teaming up with Steadfast Life will accelerate the business’s sustainable growth and create new bespoke value-added products for clients.

“I am excited for this next chapter in our journey. Steadfast Life is the right fit as a partner. They bring a considerable value proposition to our team and clients,” he said.

Steadfast Life CEO Darren Conway said the deal strengthens the company’s employee benefits proposition to SMEs with 50 to 1,000 employees and creates the scale necessary to bring new and innovative life and disability products into the SME market.

“We are excited to be partnering with David Wilson and the CRS employee benefits team. They are an impressive operation with like-minded values and cultural alignment to the Steadfast Life team,” Conway said.

The Steadfast Group has extended its presence across Australia this year, with the life insurance business’s 50% stake acquisition following the group’s acquisition of Insurance Brands Australia (IBA).