Listed broker Steadfast is to sell group life insurance to SMEs in partnership with major insurer MetLife.

The initial focus will be on offering Steadfast-MetLife corporate life insurance, income protection and total and permanent disability cover to businesses with as few as 12 employees.

The two companies will also continue working together to develop tailored corporate life products for the SME market.

Steadfast MD and CEO Robert Kelly says the partnership strengthens his group’s position as a broker of business insurance and allows it to draw on MetLife’s global expertise.

“Their group life products are complementary to our traditional business insurance lines and will be compelling to the SMEs we service,” he said.

MetLife CEO Deanne Stewart says the life products can be included in SMEs’ employee benefits packages.

“We expect to help more Australian businesses not only protect and retain existing staff but also use improved benefits to attract talent in the future,” she said.