Steadfast chair Frank O’Halloran will retire at the end of next month after leading the board for 13 years.

Mr O’Halloran became chair in October 2012 as Steadfast prepared to debut on the Australian Securities Exchange the following year. He previously worked at QBE for 35 years and was group CEO from 1998 until 2012.

“It has been a great privilege to have worked with the board and executive leadership team at Steadfast from prior to its listing to where it is today,” he said last week.

“Given my tenure as chair, I have decided not to stand for re-election.”

Mr O’Halloran’s term will conclude after the annual general meeting on October 31, with non-executive director Vicki Allen to take over the role.

Steadfast CEO and founder Robert Kelly says Mr O’Halloran’s counsel and support were fundamental to the listing and the group’s disciplined growth.

“I extend my gratitude to him and wish Frank all the very best for his retirement,” he said.

Mr Kelly has also paid tribute to CFO Stephen Humphrys, who retired on Friday for health reasons after joining the group in 2013. Hannah Lee has been made acting CFO.

In the annual report, Mr O’Halloran says the board is conscious of the need for an orderly transition of the chair and CEO roles, with a preference to appoint from within.

The board has previously said Mr Kelly will not retire before December 31 next year.

Mr O’Halloran says several Steadfast executives have experience running insurance businesses and could be CEO candidates.

“Subject to Robert not wishing to extend his tenure as MD and CEO, the board anticipates being in a position to announce any changes at the senior executive level in mid-2026 and confirm Robert’s ongoing role at Steadfast,” he said.

Steadfast has also announced that Michael Goodwin will join the board as a non-executive director from September 15.

Mr Goodwin has more than 30 years’ experience in the insurance industry, including with QBE.