UK operations bleed IAG
27 August 2012
The future of IAG’s UK operations remains in doubt after further losses and writedowns have hit the insurer’s full-year result…
Corporate
Calliden results on track with new business model
27 August 2012
Calliden Group has announced a loss of $231,000 for the six months to June 30, following its catastrophe-induced $4.3 million loss in the corresponding period last year…
Suncorp hopes new name sticks
27 August 2012
Suncorp’s authorised representative distribution business, AMP GI Distribution, will be rebranded Resilium from November 17…
Zurich reveals Fogarty replacement
27 August 2012
Nigel Whyatt is to succeed Daniel Fogarty as EGM Corporate at Zurich, following Mr Fogarty’s elevation to CEO earlier this year…
New claims agent for WorkCover SA
27 August 2012
Gallagher Bassett will join Employers Mutual SA as an approved claims agent for WorkCover SA next year, under a reform of the authority…
PSC Connect launches in NZ
27 August 2012
Australian authorised representative network PSC Connect has launched in New Zealand to focus on corporate and commercial business…
Derix confirmed as Allianz Global Assistance CIO
27 August 2012
Luc Derix has been confirmed as CIO of specialist insurance and services provider Allianz Global Assistance…
Neal manages expectations down despite solid numbers
20 August 2012
QBE has lowered its full-year insurance margin target by 1% due to increasing expenses and falling net earned premiums as a result of its troubled US business and its new focus on dropping…
New QBE CEO shows his hand
20 August 2012
New QBE Group CEO John Neal has outlined his priorities for the company going forward, while also signalling that little will change as a result of the change in leadership…
Local business stars as QBE signals movement on liability rates
20 August 2012
Australia and New Zealand were stand-out performers in QBE’s results for the six months to June 30, with the combined business posting gross written premium of $US2.47 billion ($2.37 billion)…
Wesfarmers hit by NZ quakes
20 August 2012
The Christchurch earthquakes have cut into the profits of Wesfarmers Insurance, pushing its earnings before interest and tax down 75% to $5 million in the year to June 30, compared with $20 million…
Wesfarmers cautious on broker valuations
20 August 2012
Wesfarmers Insurance will continue to drive growth through its brokerages – a strategy that will pay longer-term dividends despite possible short-term margin compression, says MD Rob Scott…
Australia and NZ give Marsh a boost
20 August 2012
Asia-Pacific has emerged as one of Marsh’s prime growth regions, with the broker’s Australian and New Zealand operations outperforming global peers in the latest quarter…
O’Halloran’s farewell package revealed
20 August 2012
The details of former QBE Group CEO Frank O’Halloran’s retirement package have been revealed, with estimates valuing it at up to $16 million…
QBE faces big losses on US crop insurance
13 August 2012
US crop insurers, including QBE Insurance Group, are facing significant claims as the drought there worsens, say brokers and rating houses…
Acquisitions help Ebix to record revenue
13 August 2012
US-based software provider Ebix increased revenue by 11% to $US91.5 million ($86.7 million) in the second half, as acquisitions in the second quarter aided sales…
Woolies won’t shear prices in car insurance play
13 August 2012
Woolworths has entered the highly competitive car insurance market but insists that, unlike rival Coles, it will not compete on price…
Ratings agencies remain cautious on AIG
13 August 2012
AIG has retained a stable credit outlook from Moody’s Investors Services on a stronger than expected second quarter and a $US3 billion ($2.84 billion) share purchase from the US Treasury…
Pressure mounts on Insured Group finances
13 August 2012
Insured Group has abandoned its capital-raising after being blocked by the Australian Securities and Investments Commission for the second time…
Brian Fulmer appointed to AMP GID board
13 August 2012
Suncorp has appointed Brian Fulmer as a non-executive director to the AMP General Insurance Distribution board…