Wesfarmers buying Lumley operations
03 June 2003
Perth-based conglomerate Wesfarmers is in exclusive negotiations to acquire Lumley Insurance Group…
Breaking News
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…
IAG-CGU rumours resurface
16 October 2002
Rumours that have been circulating through the market for the past couple of months surfaced today with a report in the Australian Financial Review that IAG is set to purchase CGU…
Gerling Re teeters as rescuers gather
15 October 2002
Gerling Global Reinsurance is expected to stop writing new business within the next few days as a last-ditch rescue package is put together in Europe to try to save it…
Batchelor quits in AMP disclosure row
24 September 2002
AMP CEO Paul Batchelor resigned this morning as investors demanded more answers about the state of the company’s British operations…
It’s goodbye to 20 insurers
01 July 2002
Twenty general insurers have disappeared from the local insurance scene from today following APRA’s unveiling of its new list of authorised insurers…
The Insurance Reform Act arrives
01 July 2002
The General Insurance Reform Act, drawn up last year by former FSR Minister Joe Hockey, sets tighter standards for general insurance companies and was sped through…
NSW halves stamp duty on premiums
04 June 2002
The NSW Government’s decision to halve stamp duty on insurance policies to 5% certainly wasn’t expected by the industry, but who’s complaining..?
Trowbridge moves to Suncorp Metway
01 May 2002
John Trowbridge, founder and chairman of actuaries Trowbridge Consulting, has been appointed Group Executive, General Insurance at Suncorp Metway…
Court bars broker from selling foreign policies
16 April 2002
ASIC has obtained Federal Court orders preventing Victorian broker Jeffrey McNally from selling policies for unauthorised foreign insurer Atlantic & Pacific…
Dexta quits builders market
10 April 2002
Underwriting agency Dexta has withdrawn completely from the NSW and Victorian builders’ warranty market, leaving the market to Royal & SunAlliance and forcing the two states…
QBE’s issue is an immediate success
09 April 2002
QBE has announced the immediate success of its $US250 ($473 million) of debt-based securities issue…