Steadfast hopes to help the Aboriginal population by investing in Indigenous-owned brokerage Origin Insurance Brokers.

The listed broker network has taken a 26% stake in Origin, which aims to promote Indigenous engagement with corporate Australia and uses a portion of premiums usually paid as fees and commissions to create work opportunities for Aboriginal and Torres Strait Islander people.

Based in Perth and Sydney, Origin was established by former rugby league star David Liddiard in 2015.

“Steadfast is committed to promoting diversity and inclusion within the insurance industry,” Steadfast CEO and MD Robert Kelly said. “Taking an equity position in Origin allows us to help it develop the first generation of Indigenous insurance professionals and create awareness and engagement with our clients, staff and suppliers.”

Origin Chairman Mr Liddiard says Steadfast’s support is vital.

“Having Australia’s largest publicly listed broking group invest in our company reflects the importance of our value proposition and shows a real commitment to providing opportunities for Indigenous peoples,” he said.

Origin MD Adam Rhodes says the investment is “the next step in creating a standalone Indigenous business to use insurance as a vehicle to help close the gap between Indigenous and non-indigenous Australians”.

Origin is no longer an authorised representative of Marsh, ending a partnership that began in June 2017.