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…
Corporate
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…
Mortgage broker teams up with Allianz for home cover
06 May 2013
Allianz will offer insurance to Mortgage Choice clients under a partnership announced today…
Quantium clients ‘could benefit’ from Woolworths tie-up
06 May 2013
Woolworths has bought a 50% non-controlling interest in data analytics company Quantium, in a deal that may be good news for insurers…
Western Pacific liquidation ‘has a long way to go’
06 May 2013
The liquidation of failed New Zealand insurer Western Pacific is unlikely to be completed in the next six months…
Suncorp wins licence consolidation approval
06 May 2013
The Federal Court has given Suncorp approval to consolidate its five general insurance licences into one…
Assetinsure profits jump in 2012
06 May 2013
Local insurer Assetinsure recorded net profit of $4.86 million in 2012 – a rise of 11.7% on the previous year – despite a slump in the construction industry that cost the firm more than $4 million…