Competition leads to softer market
21 July 2005
Despite pledges from the industry that it would never again cut rates to the inequitable levels prior to the collapse of HIH, premiums are dropping and the old dreaded insurance cycle…
Breaking News
Brokers cleared of US-style behaviour
01 July 2005
The results of the Australian Securities and Investments Commission’s inquiry into broker remuneration has found exactly what the industry has been saying for months…
Ray Williams jailed
15 April 2005
Former HIH CEO Ray Williams has been jailed for four-and-a-half years, with a non-parole period of two years and nine months, for his part in the insurer’s collapse…
Adler jailed for four-and-a-half years
14 April 2005
Former HIH director Rodney Adler was today jailed for over four years for charges related to HIH’s $5.3 billion collapse…
New CEO for IBNA Group
24 February 2005
IBNA Limited has appointed Paul Sedgwick as CEO…
Adler pleads guilty
16 February 2005
Former FAI MD and HIH director Rodney Adler has pleaded guilty to all charges presented in the NSW Supreme Court in Sydney yesterday…
Hawker sets up new IAG structure
20 July 2004
IAG has reorganised its insurance operations into personal and commercial lines, simplifying the management lines to CEO Michael Hawker…
US tech giant buys Heart
29 June 2004
Broker software provider Heart Consulting has been bought by US-owned insurance e-business specialist Ebix. The acquisition values Heart at $10.1 million…
Brad Cooper faces criminal charges
16 December 2003
Brad Cooper, a major figure in the HIH drama, was arrested in Sydney this afternoon on charges of corruptly offering bribes and obtaining a financial advantage…
Williams, Adler lose court appeal
08 July 2003
The NSW Court of Appeal today upheld Supreme Court findings from March last year that Rodney Adler and Ray Williams breached their duties as directors of HIH…
Wesfarmers buying Lumley operations
03 June 2003
Perth-based conglomerate Wesfarmers is in exclusive negotiations to acquire Lumley Insurance Group…
Mismanagement killed HIH, says royal commission
16 April 2003
The HIH Royal Commissioner has concluded that the primary reason for the collapse of HIH was its failure to provide properly for future claims…
Insider takes IBNA post
12 February 2003
Long-serving IBNA manager Peter Imeson has been appointed as CEO…
Adler charged over HIH share-buying
03 December 2002
Former FAI MD and HIH director Rodney Adler was charged this morning with three counts of stock market manipulation and two counts of false or misleading statements…
IBNA’s Paul Sarong resigns
28 November 2002
IBNA CEO Paul Serong resigned from the group today, less than two years after taking up the position…
Gerling sells its renewals to QBE
28 November 2002
Gerling Australia has been effectively put into run-off following the sale of its renewal book to QBE…
ACCC approves IAG/CGU deal
28 November 2002
The ACCC has approved the purchase by IAG of British insurer Aviva’s Australian general insurance business…
R&SA opts for a float
08 November 2002
Royal & SunAlliance will float its Australian and Asia-Pacific regional operations next year…
Lumley joins British exodus from local market
06 November 2002
The general insurance and financial services operations of the Lumley Group in Australia and New Zealand are for sale…
IAG acquisition of CGU confirmed
18 October 2002
UK-based global insurer Aviva plc has confirmed it has entered into an agreement to sell its Australian and New Zealand general insurance businesses to IAG…