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…
Corporate
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…
Genworth flags another Aussie float delay
05 November 2012
Genworth Financial’s Australian division stepped up in the September quarter, with net operating income from its mortgage insurance business rising 58% to $US57 million ($54.77 million)…
Herbert Insurance receivership nears end
05 November 2012
Receivers for failed New Zealand broker Herbert Insurance expect to end the receivership late next month or early in January…
Cover-More brings in Steve Rashford as CMO
05 November 2012
Cover-More has appointed emergency medicine specialist Steve Rashford as its Chief Medical Officer, responsible for delivering assistance in Australia, New Zealand, China and Malaysia…
Tower sells health insurance arm
05 November 2012
Tower has sold its New Zealand health insurance business for $NZ102 million ($80.9 million) following a strategic review…
Snowball sees the sun shine
29 October 2012
Suncorp says it expects better results as its insurance operation recovers from the recent spate of catastrophes…
IAG in line for growth target
29 October 2012
IAG says it is on track to deliver its full-year guidance of 9-11% gross written premium growth and an improved insurance margin of 11-13%…
QBE reaffirms full-year forecasts
29 October 2012
QBE says it is on track to achieve a full-year insurance profit margin of “better than 12%” – in line with its forecast at the half-year…
Macquarie grows inforce premium
29 October 2012
Macquarie Bank sold its Canadian premium funding business earlier this year for about $17 million, according to the financial group’s results for the six months to September 30…
OAMPS launches broker incentive program
29 October 2012
Major broker OAMPS Insurance Brokers has launched an initiative to reward brokers who consistently grow their portfolios…
Insurance Advisernet wins Lloyd’s stamp of approval
29 October 2012
Insurance Advisernet UK Limited has obtained registered broker accreditation to place open-market and delegated underwriting authority/binder business into Lloyd’s syndicates…
Axis begins restructuring
29 October 2012
Axis Specialty Australia is seeking a new underwriter in Brisbane as part of its restructuring program…
Austbrokers' incoming CEO Searles to target costs
22 October 2012
Incoming Austbrokers CEO Mark Searles says he will focus on supporting brokers with a lower-cost solution for their business operations…
CGU unites broker and workers’ comp divisions
22 October 2012
CGU Insurance has merged its broker and agent business with the workers’ compensation division…