Willis offshores Australian roles to India
17 October 2011
Willis Australasia is laying off some of its administrative staff in Australia and is offshoring their roles to the group’s global service centre in Mumbai…
Corporate
AFM acquisition takes Ausure into wholesale broking
17 October 2011
Ausure Insurance Brokers has bought specialist wholesale broking operation AFM Insurance Brokers for an undisclosed sum…
RACQ commits to flood cover
17 October 2011
RACQ Insurance has joined the growing list of insurers looking to add flood cover as standard in their householder policies…
NZ Treasury values AMI Insurance at $NZ159 million
17 October 2011
The New Zealand Treasury has put a fair value of $NZ159 million ($124 million) on AMI Insurance, which had to seek a government rescue package in April due to claims…
IAG NZ makes first moves back into Canterbury
17 October 2011
IAG NZ has reinstated standard underwriting for home and contents insurance in the outer Canterbury region…
QBE given Lloyd’s Solvency II green light
17 October 2011
QBE is among four managing agents to be given a “green light” under the traffic light system Lloyd’s is using to measure progress on Solvency II…
CGU ‘changed procedures’ after Brisbane flood
10 October 2011
CGU has taken action following the Queensland floods to ensure that customers know they can ask for a site assessment, CEO Peter Harmer told the Queensland Floods Commission of Inquiry last week…
Insurer fixes post-disaster communication issue
10 October 2011
NRMA Insurance has told the Queensland Floods Commission of Inquiry it implemented a new system to allow for better communication with clients following the January disaster…
Investors rake over AMI’s remains
10 October 2011
A new lead investor or owner for beleaguered New Zealand insurer AMI will be revealed within weeks…
ACC sells injury manager to Employers Mutual
10 October 2011
New Zealand’s Accident Compensation Corporation has sold subsidiary company Catalyst Risk Management to Australian workers’ compensation manager Employers Mutual…
HIH liquidation on track for 2013
10 October 2011
The administrators of the remaining 63 HIH companies in liquidation are still on track to finalise the schemes of arrangement in 2013…
Vero wants more of SME market
10 October 2011
Vero has revised its pricing model for SME business in a bid to lift its market share in this segment…
Dual expands its A&H capacity
10 October 2011
Underwriting agency Dual Australia has signed a deal with Lloyd’s syndicate Markel to expand its Lloyd’s capacity…
Insured Group suspended from NZX
10 October 2011
Insured Group has been suspended from the New Zealand Stock Exchange for failing to lodge its audited annual report for the 2010/11 financial year…
CGU expands installment billing option
10 October 2011
CGU Insurance is now offering installment billing on its business and office packages…
Jobs to go as Lumley centralises operations
03 October 2011
Lumley will cut up to 20 claims and underwriting positions as it implements plans to centralise operations…
Vero shuts Adelaide underwriting centre
03 October 2011
Suncorp subsidiary Vero is closing its SME underwriting facility in Adelaide and centralising its operations in Brisbane…
Tower NZ sorts out reinsurance cover
03 October 2011
Tower NZ has completed its 2012 financial year reinsurance program, but admits the premiums will be a lot higher than currently being paid…
Great Lakes confirms restructure
03 October 2011
Great Lakes Australia has confirmed it has restructured its marine business…
Ansvar quits NZ earthquake cover
03 October 2011
UK-based church insurer the Ecclesiastical Group has pulled out of earthquake cover in New Zealand and will now write NZ business through subsidiary company Ansvar Australia…