Having progressively risen up the ranks of the South Australian Business Index over the years, Codan has finally dethroned an oil and gas giant that has consistently held a top four position since 2018.

The ASX-listed metal detector and communications business, valued at $3.6 billion as of June 30, 2025, has jumped into third place in this year’s most-trusted ranking of South Australian businesses.

Unveiled today at InDaily’s sold-out South Australian Business Index lunch, Codan rose above oil and gas company Beach Energy.

Beach has maintained a top-four position since 2018. The only year it fell out of that level was in 2017, when it was ranked sixth. Last year, the firm rose into third position following BHP’s acquisition of Oz Minerals meaning that company fell out of contention.

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