Wesfarmers Insurance predicts better year ahead
19 November 2012
Fewer catastrophes, rising premiums and better risk selection have given Wesfarmers Insurance confidence of a “significant improvement” in its full-year result…
Corporate
Invest in local insurers, analysts say
19 November 2012
Analysts are advising investors to favour local insurers over QBE, following CEO John Neal’s announcement last week of an expected $1.2 billion claims blowout from its US division…
WR Berkley expands office network with Axis hires
19 November 2012
WR Berkley has expanded its operations into WA and SA through two new hires from rival insurer Axis…
Beazley eyes Australia for cyber cover expansion
19 November 2012
Lloyd’s insurer Beazley is targeting Australia for growth, with new regulations potentially opening the door for its cyber insurance product…
Western Pacific liquidators chase brokers
19 November 2012
The liquidators of failed New Zealand insurer Western Pacific have hired debt collectors to pursue outstanding money, including from brokers…
Former CBA exec joins Tower team
19 November 2012
Tower NZ has appointed a former Commonwealth Bank executive to its board…
US claims whack QBE’s bottom line
12 November 2012
QBE is taking a hit from its US exposures, with claims from Hurricane Sandy likely to cost it $350-$450 million and crop losses caused by the US drought expected to be $355 million for the full year…
Ebix has better third quarter
12 November 2012
Ebix Australia has completed the integration of the Fintechnix financial services platform, which it bought in June, according to Australian MD Leon d’Apice…
Calliden offloads farm book
12 November 2012
Calliden Group will transfer its farm portfolio to Munich Re subsidiary Great Lakes Australia but says customers won’t be affected by the change…
MGA acquires Sirius in Darwin
12 November 2012
Adelaide-based national broker MGA has expanded its Darwin presence with the purchase of Sirius Risk Services…
Lawsons Underwriting continues expansion
12 November 2012
Expanding underwriting agency Lawsons has opened an office in Brisbane…
Berkshire Hathaway moves into NZ quake market
12 November 2012
US reinsurance and investment giant Berkshire Hathaway is to provide earthquake cover in the Christchurch region after obtaining a New Zealand insurance licence…
Trowbridge to chair MDA
12 November 2012
John Trowbridge will add another entry to his crowded career when he takes up the chairman’s role at medical defence insurer MDA National on December 13…
Court upholds New Cap Re claim against syndicate
12 November 2012
The UK Supreme Court has ruled that New Cap Re liquidators Ernst & Young can force Lloyd’s Syndicate 991 to repay $US5.9 million ($5.6 million) plus interest…
NAB subprime class action hits insurers
12 November 2012
Insurers will pay $50 million of the $115 million class action settlement against NAB for losses incurred by shareholders in the US mortgage crisis…
Centrepoint on course following losses
05 November 2012
Centrepoint Alliance is on track to achieve profit targets for 2012/13 despite reporting a $17.88 million net loss for the year to June 30, according to MD Tony Robinson…
Apex and Insurance House join forces
05 November 2012
Insurance House Group has merged with NSW-based Apex Insurance, taking the combined group’s premium income to more than $150 million…
Insurance aids TIO result
05 November 2012
A 61% improvement in underlying insurance profitability helped Northern Territory Government-owned bancassurer TIO record an after-tax profit of $8 million in 2011/12…
Starr rises in Melbourne
05 November 2012
Starr Underwriting Agents Asia has relocated to Melbourne after spending the past two years in Sydney…
Elders insurance on the block
05 November 2012
Elders is to sell its insurance business along with its iconic rural services business in a bid to retain control of its destiny…