RACQ reveals underwriting decline and flags cyclone cost
29 April 2013
RACQ Insurance has reported an underwriting result of $33.92 million for the 2012 calendar year, down from $42.93 million in 2011…
Corporate
Rate rises may slow, IAG NZ says
29 April 2013
IAG NZ expects future premium increases in the New Zealand market to be lower than in the past few years, after it raised home insurance rates by an average of 30% following the Canterbury earthquakes…
QBE in talks on SA builders’ warranty
29 April 2013
QBE and the SA Government are negotiating for the insurer to remain in the state’s builders’ warranty market for another year…
Calliden hails insurance book improvement
29 April 2013
Calliden says last year’s restructure has resulted in a more profitable insurance book…
IAG finalises sale of UK business
22 April 2013
IAG has completed the sale of its UK motor business after receiving all regulatory approvals, it announced today…
Humphreys to stay on in Australia for Lloyd’s
22 April 2013
Lloyd’s Australian General Representative Adrian Humphreys will remain in the position for a further two years, after having his contract extended…
Moody’s downgrades QBE debt ratings
22 April 2013
Moody’s Investors Service has downgraded some of QBE’s debt ratings because of weakened earnings, internal capital generation and debt servicing coverage…
Travel insurers offer SIM cards to cut roaming bills
22 April 2013
Two travel insurers are offering free global SIM cards with their policies, so customers can avoid expensive international roaming rates…
Insured Group shareholder withdraws listing application
22 April 2013
Mystery surrounds Priority One Network Group’s planned listing on the Australian Securities Exchange, after the application was withdrawn…
Union forms working group for IAG claims changes
22 April 2013
The Finance Sector Union is calling for members within IAG to join a working group to identify and resolve issues related to changes in the way the company processes claims…
Steadfast moves to go around Ebix over interface
15 April 2013
A long-running impasse between Steadfast and technology provider Ebix Australia took a sharp turn last weekend when the broker group’s members voted to effectively move to a single software solution…
Austbrokers expands in NSW and Queensland
15 April 2013
Austbrokers is continuing to expand through acquisition, with Austbrokers Holdings acquiring half of a Queensland brokerage and its Austbrokers Risk and Insurance Services business buying Team Insurance Agencies…
MGA gains Canberra foothold with Capital purchase
15 April 2013
MGA Insurance Brokers has acquired Canberra-based Capital Wealth Insurance Brokers as part of its expansion program…
Landmark joins NAS
15 April 2013
The insurance arm of agribusiness group Landmark has become an authorised representative of CGU-owned NAS Insurance Brokers…
Virgin purchase casts doubt on home insurance launch
15 April 2013
Bank of Queensland’s $40 million acquisition of Virgin Money Australia has raised questions over Virgin’s plan to introduce more general insurance products…
Calliden targets expansion with new model
15 April 2013
Calliden will pursue growth strategies this year as it looks to prove the value of its new model, according to CEO Nick Kirk…
Suncorp to bring in $500 million via note issue
15 April 2013
Suncorp is to raise $500 million with a note issue, which it will use to replace some of its convertible preference shares and for general funding…
Steadfast bulks up board
15 April 2013
Steadfast has confirmed the appointment of two new board directors ahead of its upcoming public listing…
Steadfast adds to network ahead of float
08 April 2013
Broker group Steadfast has bought two underwriting agencies and two brokerages as it shapes up for a public float later in the year…
Neal to drive costs down at QBE
08 April 2013
QBE aims to strip at least $250 million of costs from the business by 2015, CEO John Neal told shareholders at the AGM late last month…