Macquarie Bank is so pleased with its Steadfast premium funding joint venture that it’s now looking at similar opportunities around the world.

Insurance Broking Services team leader Paul Cilia says the joint venture with the cluster group has “hit its numbers” in the first six months of operations.

The results, which have not yet been released for publication, were unveiled to Steadfast members at the group’s convention on the Gold Coast on Saturday.

The projected earnings announced by Macquarie Bank at last year’s Steadfast Convention in Adelaide caused considerable comment, with several critics expressing doubt that the forecast earnings were attainable.

“But we’ve hit the numbers in the first six months and we’re confident it’s going to be a very good full year,” Mr Cilia told insuranceNEWS.com.au.

He says the bank is now keen on expanding its premium funding expertise globally.

“The success of this joint venture has underpinned a lot of that,” he said. “There’s going to be a lot more happening in this space.”