Tower ‘too conservative’ in AMI bid
13 February 2012
Tower Group Chairman Bill Falconer says the company was too conservative in its bid to buy troubled insurer AMI…
Corporate
Suncorp denies it’s sending 2000 jobs to India
06 February 2012
Suncorp has denied Indian media reports that 2000 jobs will be relocated to the subcontinent in the latest furore over outsourcing…
CGU and Aon look at restructuring
06 February 2012
Staff at commercial insurer CGU and broker Aon are waiting to see if recently commenced corporate restructures will result in redundancies…
Guild rebrands intermediary division as Acerta
06 February 2012
Acerta is the new name of Guild Insurance’s intermediary division…
CGU names new division’s managers
06 February 2012
CGU has unveiled the management team leading its new Broker and Agent division…
IAG firm faces the wrath of Lloyd’s over its UK woes
06 February 2012
An IAG subsidiary has been censured by Lloyd’s over issues relating to past reserving and record keeping within its UK business, Equity Syndicate Management…
Court directs Western Pacific reinsurance money to earthquake claims
06 February 2012
New Zealand’s High Court has ruled that earthquake claimants are entitled to all the reinsurance money from Western Pacific, meaning the failed insurer’s creditors will probably receive nothing…
Centrepoint launches domestic funding
06 February 2012
Exemptions granted to premium funders under consumer credit laws and the rising costs of insurance have prompted Centrepoint Alliance to launch a new domestic product…
Miller Insurance changes name to MA Risk Solutions
06 February 2012
Miller & Associates has changed its name to MA Risk Solutions and is now wholly Australian-owned after the company’s directors and staff bought the 25% owned by Lloyd’s broker Miller Insurance Services…
Correction
06 February 2012
A news item last week (Chartis centralises prestige house and contents group) contained two inaccuracies…
Losses continue to grow at Calliden
30 January 2012
Calliden Group has said its unaudited loss for the 2011 calendar year will be between $11.5 and $12.5 million:
QBE performance wobbles
30 January 2012
Shares in QBE are wallowing in the doldrums after it warned in mid-January of a 40-50% profit and dividend cut…
Disasters bite into Wesfarmers’ insurance profit
30 January 2012
Wesfarmers Insurance Division has warned it will suffer a 75% fall in net profit in the first half of the financial year…
Suncorp sees big opportunities in AMP deal
30 January 2012
Suncorp will build a new stand-alone brand and develop alternative sales channel approaches through its newly acquired AMP General Insurance Distribution business…
IAG secures additional reinsurance
30 January 2012
IAG has increased its catastrophe reinsurance by $600 million to $4.7 billion for this year…
IAG moves to buy NZ and Malaysia businesses
30 January 2012
IAG has followed up its proposal to pay $380 million to buy New Zealand insurer AMI’s non-earthquake affected business with an acquisition in Malaysia…
Chartis centralises prestige house and contents group
30 January 2012
Chartis Insurance has centralised the underwriting operations of its Private Client Group to its head office in Sydney…
Axis Capital appoints ex-Zurich chief
30 January 2012
Former Zurich Australia CEO David Smith has begun work as CEO and Country Manager of Australia Operations for Axis Capital Holdings…
Westcourt offers premium funding
30 January 2012
Perth-based Westcourt General Insurance Brokers has moved to provide premium funding to its network of authorised representatives…
Allianz appoints new regional chief
30 January 2012
Former HSBC Insurance chief David Fried has left the London-based banking giant after 20 years to become Regional CEO of Allianz Asia Pacific, based in Singapore…