Slash goodwill, analyst tells QBE
15 October 2012
QBE should cut $2.5 billion from the value of its goodwill to raise returns, according to Ross Curran, an insurance analyst with the Commonwealth Bank’s CommSec broking house…
Corporate
SUA expands with iConstruct deal
15 October 2012
Brisbane-based Specialist Underwriting Agencies has struck a deal to buy construction industry niche underwriter iConstruct…
WR Berkley shakes up team before expansion
15 October 2012
WR Berkley’s new CEO Tony Wheatley has revamped the company’s management structure to position it for expansion geographically and into new lines…
QBE plays down US force-placed insurance risks
15 October 2012
QBE says it expects “moderate price reductions” in its controversial North American force-placed insurance business…
Australian Reliance moves into Brisbane
15 October 2012
Australian Reliance has moved into Queensland, opening an office in the Brisbane suburb of Fortitude Valley…
Agency downgrades Genworth Australasia outlook
15 October 2012
Standard & Poor’s has downgraded the outlook for Genworth’s Australian and New Zealand mortgage insurance businesses…
AIG confirms All Blacks sponsorship
15 October 2012
AIG is to become a jersey sponsor for the All Blacks and five other teams in a deal with New Zealand Rugby Union…
AIG reveals ‘revitalised’ new look
08 October 2012
AIG has unveiled a new logo as its general insurer Chartis and life and retirement business SunAmerica Financial Group prepare to rejoin the parent brand…
New Willis chief concentrates on growth
08 October 2012
New Willis Australasia Chairman Roger Wilkinson says he will be concentrating on “building our bench strength” at the top end of the market and in specialisations…
Allianz to hold course under new boss
08 October 2012
Allianz Australia’s new MD Niran Peiris plans a “steady as she goes” approach when he takes over from Terry Towell on January 1…
Reinsurance pushes up NZ premiums
08 October 2012
New Zealand home insurance premiums are rising sharply on the back of higher reinsurance costs, according to Tower MD Rob Flannagan…
‘Turbulent times’ push Calliden out of builder market
08 October 2012
Calliden is to adjust its exposure to the construction industry by quitting the licensed builder insurance market at the end of the year…
Rural insurance merger on cards
08 October 2012
A three-way rural insurance tie-up may be on the horizon, with agricultural supply business Ruralco offering to merge with fellow industry player Elders…
eSentry moves into Melbourne
08 October 2012
Online agency eSentry Underwriting has opened an office in Melbourne, with Tony Spall taking the role of business development manager for Victoria…
NZX bans Insured Group again
08 October 2012
Insured Group has again been suspended from the New Zealand Stock Exchange for failing to lodge its annual report on time…
Benign claims help Lloyd’s to a bumper half-year
01 October 2012
Lloyd’s has posted its highest half-year profit in five years on the back of a benign claims period…
Share issue to raise $350 million for Suncorp
01 October 2012
Suncorp is to raise $350 million with a convertible preference share issue, to keep capital at appropriate levels after it redeems a £253 million ($575 million) note issue later this month…
Dual adds new capacity providers
01 October 2012
Underwriting agency Dual has added Barbican and Liberty to its stable of capacity providers for its global financial lines portfolio…
Wesfarmers predicts profit growth
01 October 2012
Wesfarmers expects improved underwriting earnings in the next year thanks to premium rate increases, a disciplined approach to risk selection and efficiencies in the business…
Centrepoint’s premium funding business on track for growth
01 October 2012
Centrepoint Alliance’s insurance premium funding division is expected to deliver a strong result in 2012/13, according to Chairman Rick Nelson…