Herbert Insurance receivership ends
18 March 2013
The receivership of failed New Zealand company Herbert Insurance has ended two years after it began, with secured creditor ASB Bank owed $NZ595,000 ($476,725)…
Corporate
Non-life business holds key to Suncorp rating: Fitch
18 March 2013
Fitch has affirmed a stable outlook on Suncorp Group and its main operating subsidiaries, but says this is dependent on continued profitability in its non-life insurance businesses…
CGU reassures staff on offshoring
11 March 2013
CGU chief Peter Harmer has told staff the company will not offshore jobs during his tenure as CEO…
QBE Melbourne jobs set to go amid protest
11 March 2013
Around 100 workers in QBE’s Melbourne office were expected to be notified last week they would be affected by the company’s offshoring plans, insuranceNEWS.com.au understands…
Rates unlikely to rise soon, says JLT
11 March 2013
Rates are unlikely to increase in the immediate future, JLT Group CEO Dominic Burke has told shareholders in London…
Dual backs management liability despite blowout
11 March 2013
Underwriting agency Dual remains committed to the management liability market, despite a rise in claims causing “significant loss ratios” in the past three years…
OAMPS builds up corporate and specialty expertise
11 March 2013
Wesfarmers-owned OAMPS Insurance Brokers has made a number of senior appointments at its North Sydney Corporate and Specialty branch…
Aon appoints MD for people risk business
11 March 2013
Aon has appointed Robyn Perkins to the role of MD, People Risk Solutions…
QBE staff cuts begin as silence creates confusion
04 March 2013
Up to 150 staff from QBE’s Sydney operations have been notified that they won’t have jobs “within six months” a source has told insuranceNEWS.com.au, while the company will this week advise its Melbourne…
QBE begins long process to change course
04 March 2013
QBE CEO John Neal moved quickly last week to begin a massive operation designed to turn around the group’s lagging performance…
Calliden returns to profit
04 March 2013
Niche insurer Calliden has returned to profitability, driven by a new business model and fewer claims from natural disasters…
Virgin to enter home and contents market
04 March 2013
Virgin Money is confident of cracking the $6.1 billion home insurance market, according to new MD David Curneen…
Centrepoint Alliance sees funding profit rise
04 March 2013
Centrepoint Alliance has posted a pre-tax profit from premium funding of $1.91 million for the six months to December 31, a rise of 44%…
Genworth grows Australian profit
04 March 2013
Genworth Australia’s mortgage insurance operating profit grew to $US62 million ($60.36 million) in the fourth quarter of last year, up 15.5% from $US54 million ($52.57 million)…
Gallagher named CEO Pacific at Guy Carpenter
04 March 2013
Reinsurance broker Guy Carpenter has appointed Tony Gallagher as Pacific Region CEO, based in Sydney…
Cowan appointed Cunningham Lindsey NZ CEO
04 March 2013
Darryl Cowan is the new CEO of Cunningham Lindsey New Zealand, replacing Martyn Norrie, who retired last week…
Tower sells investment business
04 March 2013
New Zealand insurer Tower has offloaded funds management business Tower Investments to Fisher Funds for $NZ79 million ($63.78 million)…
Insured Group replaces auditor, makes another loss
04 March 2013
Insured Group has approved the replacement of its auditor Grant Thornton…
Acquisitions drive Austbrokers profit
25 February 2013
Acquisitions enabled Austbrokers to more than double its profit to $24.5 million in the six months to December 31…
Allianz profits soar
25 February 2013
Allianz has reported a 95.8% rise in net profits to €5.49 billion ($7 billion) for the year to December, with operating (pre-tax) profits up 20.8% to €9.5 billion ($12.18 billion) – its best result since before the…