Australia's AUB, Steadfast rise as Morningstar keeps fair value estimates despite AI threat

AUB

15/04/2026 06:41

Updates

** Shares of Australia's AUB Group AUB.AX and Steadfast SDF.AX rise as much as 1.4%, 1.2% to A$25 and A$4.29 respectively

 ** Both stocks set for second consecutive session of gains, if current trend holds

 ** Morningstar says they offer more than policy comparison, quote generation

** Investment research firm notes selloff in Australian insurance brokers, addressing concerns of AI adoption in insurance distribution chain

** However, keeps fair value estimates for AUB, SDF at A$39.00 and A$6.20, respectively, doesn't see clear incentive for mass switching away from brokers, ongoing barriers to entry should support pricing

** Flags brokers offer clients with protection from poor advice, among others

** AUB down 20% YTD, SDF down 19%

(Reporting by Shruti Agarwal, Aamir Sheik Khalid in Bengaluru; Editing by Jamie Freed)

((Shruti.Agarwal@thomsonreuters.commailto:Aamir.SheikKhalid@thomsonreuters.com))