Ratings agencies downgrade QBE after loss guidance
16 December 2013
Major ratings agencies have downgraded QBE after the group last week warned it is heading for a $US250 million ($274.35 million) loss this year…
Corporate
Steadfast acquires majority stake in Protecsure
16 December 2013
Steadfast has bought 60% of Sydney-based underwriter Protecsure…
Vero gives brokers ‘flexibility’ on commission cut
16 December 2013
Brokers are free to cut their commissions on Vero personal insurance home cover by more than the required 7.5 percentage points, the insurer says…
Marsh and Mercer join forces on benefits and super
16 December 2013
Marsh Australia is creating a new employee health and benefits business to pursue opportunities in the benefits and super sectors…
Raymond Jones takes over at G4S
16 December 2013
G4S Compliance & Investigations has appointed Raymond Jones to run its Australian business, effective from January 6…
Genworth appoints Australia CFO ahead of float
16 December 2013
Lenders’ mortgage specialist Genworth is to send a senior executive with mortgage and investor relations experience to Australia, as the US company keeps alive…
Resilium unveils advice site
16 December 2013
Suncorp’s authorised representative arm Resilium has launched an online advice centre for the owners of small businesses…
US writedowns push QBE into red
09 December 2013
QBE is expected to report a loss of about $US250 million ($274.51 million) this year after writing down nearly $US1 billion ($1.09 billion) from its US operations…
Wesfarmers sale rumours persist
09 December 2013
A claim that Wesfarmers has “walked away” from negotiations to sell its insurance division to Zurich Australia has been refuted by market sources here and overseas…
Willis breaks new ground at Rinehart mine
09 December 2013
Willis has designed and placed cover for Gina Rinehart’s huge Roy Hill iron ore project in WA’s Pilbara region, with the loss trigger based on cyclones and heavy rainfall…
Maher promoted to IAG post
09 December 2013
CGU Chief Underwriting Officer Darren Maher is moving to IAG, to take the same role with the parent company…
Search continues for new QBE CFO, Scala departs
09 December 2013
QBE Group CEO John Neal has a shortlist of external candidates for the role of CFO…
Ansvar pursues growth following overhaul
09 December 2013
Ansvar has finished its restructuring and aims to build on the transformation in the coming year, Acting CEO Deirdre Blythe says…
Cover-More reports strong interest in IPO
09 December 2013
Cover-More CEO Peter Edwards says meetings with potential investors have revealed “strong interest” in the travel insurer’s initial public offering…
Ironshore joins forces with Inter Hannover
09 December 2013
Specialty insurer Ironshore has entered an agency agreement with the Australian branch of Inter Hannover to provide mergers and acquisitions cover…
MDA records ‘solid’ result before CEO departs
09 December 2013
MDA National has produced a “commercially solid result”, outgoing CEO Peter Forbes told the group’s annual general meeting in Perth last week…
HCF steps up pet and travel cover sales
09 December 2013
HCF is selling more travel and pet insurance as part of its diversification strategy…
ME Bank launches insurance tie-up with QBE
09 December 2013
ME Bank is giving its 290,000 customers access to consumer insurance products under a referrer model with QBE…
Steadfast splits first hub, decides on two for Sydney
02 December 2013
Steadfast has called a halt to its first “broker hub”, announcing new plans to now have two hubs operating in Sydney instead…
Vero slashes 7.5% off home cover commission
02 December 2013
Brokers have reacted angrily to a plan by Vero to cut commissions on personal insurance home cover from 22.5% to 15%…