Coverforce’s CEO Tony Goldsmith and CFO Jitendra Dutt have left the group following a reorganisation that has split the business’ operations among other Steadfast companies.

As reported yesterday, GSA has acquired Coverforce Insurance Brokers, Community Broker Network (CBN) is taking over Coverforce Partners, and BCB will integrate the strata portfolio into its business.

A Steadfast spokesperson says Coverforce Partners CEO James Stanley will continue in his role and support integration of the business and network portfolios into CBN.

“The strategic realignment of Coverforce ... is aimed at unlocking greater scale, operational efficiency and enhanced client outcomes across the Australian insurance broking landscape,” the spokesperson said.

“This realignment will enable CBN, BCB and GSA businesses to scale more effectively and deliver superior service standards”.

Steadfast acquired network member Coverforce for $411.5 million in 2021, gaining one of Australia’s largest privately owned insurance brokers.

The integrations announced yesterday are expected to be completed in coming months.