Ansvar offshoot settles $NZ511 million of earthquake claims
27 May 2013
Claims manager ACS says it paid $NZ510.57 million ($425.78 million) in claims last year, mostly resulting from the Canterbury earthquakes…
Corporate
Ruralco insurance profit gains on higher premiums
27 May 2013
Ruralco’s farm and general insurance gross profit grew 12% in the half-year to March 31 as premiums rose and the company increased its presence in key regions…
Ironshore builds on strong foundation
20 May 2013
Bermudian insurer Ironshore continues to grow, posting a 27% rise in gross written premium for the first quarter…
iSelect prepares for $215 million share offer
20 May 2013
Online insurance comparator iSelect plans to raise $215 million through a share offer before listing on the Australian Securities Exchange late next month…
Gibbscorp teams up with financial planner
20 May 2013
Insurance Advisernet Australia’s largest corporate authorised representative, Gibbscorp, has merged with financial planning group Total Capital Management…
BJS looks outside in succession strategy
20 May 2013
Melbourne-based broker BJS will continue to expand its national footprint over the next few years as it looks outside the group to build its future management…
Government challenges reinsurers over Pan payout
20 May 2013
Federal Government insurer Comcover is in dispute with its reinsurers over a $67.5 million compensation settlement from the Pan Pharmaceuticals class action…
AMI claims to cost NZ Government $NZ300 million
20 May 2013
Reinsurance and the sale of failed New Zealand insurer AMI’s investments and brand will cover $NZ1.9 billion ($1.58 billion) of the insurer’s $NZ2.2 billion ($1.82 billion) in earthquake claims – leaving the…
All Class book offered for quick sale
20 May 2013
All Class Insurance Brokers’ receiver has offered the Sydney company’s client book for sale, with offers closing last Wednesday, just days after the business was advertised…
Board resignation ‘prudent’, but members critical
13 May 2013
The decision by Steadfast COO Cameron McCullagh to resign from the broker group’s board was prudent in light of the group’s upcoming public float, according to industry sources…
Ebix earnings rise as exchanges perform
13 May 2013
Software provider Ebix has reported an 11% increase in first-quarter earnings compared with the corresponding period last year, driven by rising exchange revenues…
GE may offload insurance arm
13 May 2013
General Electric will sell its Australian insurance unit for about $300 million, according to US media reports…
Receiver scrutinises All Class books
13 May 2013
A receiver is assessing All Class Insurance Brokers’ position after taking charge of its records last…
Tower sells life business
13 May 2013
New Zealand insurer Tower has sold most of its life insurance business to Fidelity Life for $NZ189 million…
FM Global rewards clients with premium reductions
13 May 2013
US-based mutual FM Global is to give clients about $US435 million in premium reductions – the biggest such payout by the company…
ANA restructures to support regional members
13 May 2013
Australian Network Adjusters has restructured, with new state managers and 35 members…
Westpac LMI maintains rating
13 May 2013
Fitch Ratings has affirmed its AA- rating with a stable outlook on Westpac Lenders Mortgage Insurance…
Receiver and liquidator appointed to All Class Insurance Brokers
06 May 2013
Sydney-based All Class Insurance Brokers has had a receiver and a liquidator appointed…
Positive reception greets Ebix sale deal
06 May 2013
Ebix Australia says local market reaction to the impending sale of its US-based parent to an affiliate of investment bank Goldman Sachs has been positive…
Church insurer pays $30 million to Victorian abuse victims
06 May 2013
Catholic Church Insurance paid around $30 million in compensation and counselling costs to about 600 victims of abuse from clergy in Victoria, a statement to a parliamentary inquiry has heard…