Steadfast has announced the acquisition of a 26% stake in Indigenous-owned brokerage Origin Insurance Brokers.

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

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

It aims to promote Indigenous engagement with corporate Australia and uses a portion of premiums usually paid as fees and commissions to create long-term sustainable work opportunities for Aboriginal and Torres Strait Islander people.

Steadfast CEO and MD Robert Kelly told insuranceNEWS.com.au his company is “committed to promoting diversity and inclusion within the insurance industry”.

“Taking an equity position in Origin allows us to help them develop the first generation of Indigenous insurance professionals and create awareness and engagement with our clients, staff and suppliers.”

Origin Chairman Mr Liddiard says the support of Steadfast 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.”

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