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The article, shortened and in plain language
Choosing between Steadfast Group Ltd and AUB Group Ltd can be a tough ask for investors focused on Australia's bustling insurance broking industry.
Steadfast is the largest general insurance broker network and group of underwriting agencies in Australia and New Zealand, with a footprint spanning more than 430 brokers and around 2,000 offices according to its most recent public description. The company's reach extends to Singapore, the UK, Germany, and more recently, the United States – thanks to recent acquisitions and the rollout of the ISU Steadfast brand.
Steadfast also offers 100% franking on all dividends, and its payout has steadily increased over recent years based on the data provided.
AUB Group is another insurance services player, boasting a broker network across Australia, New Zealand, the US, the UK, and Europe. According to its most recent profile, the AUB network covers more than 570 places and writes an amount of gross written premium. Like Steadfast, AUB holds equity stakes in partner brokerages and various underwriting agencies.
AUB also boasts 100% franking and a long record of dividend payments, with the most recent full-year payout reaching $0.98 per share.
While AUB pays out a larger absolute dividend per share, Steadfast offers a higher yield based on the current share price, and both are 100% franked.
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