Engineer shortage slows Western Pacific liquidation
10 February 2014
A shortage of engineers is hampering claims assessment for the liquidators of New Zealand insurer Western Pacific, which failed in 2011 after the Canterbury earthquakes…
Corporate
Tower predicts stronger growth in New Zealand
10 February 2014
Tower CEO David Hancock says gross written premium growth in New Zealand is returning to about 5%, last seen before the Canterbury earthquakes…
Genworth hopeful on Australian IPO
10 February 2014
US-based Genworth is “optimistic” market conditions will allow it to proceed this year with an initial public offering on up to 40% of its Australian mortgage insurance business…
Ebix settles class action to ‘eliminate uncertainties’
10 February 2014
Insurance technology specialist Ebix has agreed to pay $US6.5 million ($7.2 million) to settle all claims in a shareholder class action filed in 2011.…
Allianz Global Assistance names technical chief
10 February 2014
Allianz Global Assistance has appointed Matthew Clayton as Chief Technical Officer for its Australian business…
Austbrokers absorbs IAA agencies
03 February 2014
Austbrokers subsidiary Austagencies has entered into an exclusive heads of agreement to acquire underwriting agencies operated by member company Insurance Advisernet…
Stream listing bolsters Cerno transformation
03 February 2014
Claims services company Stream is to list on the Australian Securities Exchange next month as it progresses its integration with major loss adjuster Cerno…
Sportscover ‘hasn’t agreed to sell its Lloyd’s agency’
03 February 2014
Reports that Melbourne-based international underwriting agency Sportscover is selling its Lloyd’s managing agency has been discounted by the company…
IBNA recruits take membership total past 80
03 February 2014
Independent broking network Insurance Brokers Network Australia has welcomed two new members, Sydney-based Logan Insurance Brokers and Red Star Insurance Brokers…
IAG completes share purchase plan
03 February 2014
IAG has completed its share purchase plan,as it looks to raise equity for the $1.845 billion purchase of Wesfarmers’ insurance underwriting businesses…
IAG revises annual guidance
03 February 2014
IAG has updated its guidance for the year to June 30 following a review…
QBE recruits CFO from UK
03 February 2014
QBE’s search for a new CFO is over, with UK insurance executive Pat Regan to fill the role from June…
Aon creates specialty division
03 February 2014
Aon Risk Solutions has merged several of its businesses to form an expanded division called Financial Specialties…
Cooper Gay buys Epsilon in Australian expansion
03 February 2014
Global wholesale and reinsurance broker Cooper Gay Swett & Crawford (GCSC) has bought Sydney-based Epsilon Insurance Broking Services from founders Peter and Lynn O’Shea…
Bart takes wider role at Crawford
03 February 2014
International loss adjuster Crawford & Company’s Australia CEO Andrew Bart has added the role of Pacific CEO to his responsibilities…
QBE sponsors first catastrophe bond
03 February 2014
QBE has gained $US250 million ($285 million) of reinsurance cover by sponsoring its first catastrophe bond…
Board appointments smooth Austbrokers’ succession
03 February 2014
Austbrokers has appointed Robin Low and David Clarke as directors…
FM Global names new CEO
03 February 2014
Commercial and industrial property insurer FM Global has appointed Lyndon Broad as its Australian Operations Manager and CEO, following the retirement of Ian Berg…
Principal Finance gets new CEO
03 February 2014
Adelaide-based premium funder Principal Finance has appointed Daniel Gronert as CEO, replacing co-founder David Palyga…
IAG gets 24% market share, but Wesfarmers keeps brokers
16 December 2013
IAG has agreed to purchase the insurance underwriting businesses of Wesfarmers for $1.845 billion to strengthen its Australian and New Zealand businesses…