Catastrophes slice into Wesfarmers profit
22 August 2011
Wesfarmers Insurance has blamed catastrophes in Australia and New Zealand for a slide in pre-tax earnings from $131 million to $30 million in the year to June 30, but MD Rob Scott says the…
Corporate
Vero wins Japanese accolade for marine claims-handling
22 August 2011
Japanese insurer Mitsui Sumitomo has presented Vero with its “Best Marine Claims Agency” award for the Australian insurer’s work during the Tohoku earthquake and tsunami…
Avant buys Doctors’ Health Fund
22 August 2011
Medical indemnity mutual Avant Insurance is buying Doctors’ Health Fund for $28.5 million…
PIS snares top Marsh executive
22 August 2011
Dealer group Professional Investment Services has appointed senior Marsh executive Peter Walther as its new CEO…
IAG makes $100 million move into China
15 August 2011
IAG is to acquire a 20% strategic interest Chinese general insurer Bohai Property Insurance Pty Ltd for about $100 million…
QBE creates new investor role
15 August 2011
QBE has appointed a global head of investor relations and communications in a newly created group executive role…
Ebix turns in a solid result
15 August 2011
Insurance software and e-commerce company Ebix has posted a strong profit for the second quarter…
NZ’s hardening rates attract foreign interest
15 August 2011
Foreign insurers are beginning to react to the steep rate increases in New Zealand following the Christchurch earthquakes and new perceptions of the country’s risks…
Higher claims hit CommInsure’s income and profits
15 August 2011
CommInsure’s income for the 2011 financial year was down 9% to $856 million due to high claims from both the wholesale and retail business…
Lloyd’s probes reserving at IAG syndicate
15 August 2011
Lloyd’s has begun an investigation into reserve deterioration at the IAG-owned Equity Syndicate 218, according to reports…
CGU restructures leadership team
08 August 2011
CGU has announced a series of changes to its leadership team to better enable it “to deliver against its business strategy, now and in future”, CEO Peter Harmer says…
Tokio Marine appoints new Australia CEO
08 August 2011
Tokio Marine has confirmed the appointment of Jun Matsui as the new CEO of its Australian operations, as former chief Masayuki Mizunuma returns to Japan after five years in the job…
S&P keeps IAG’s ratings at AA-
08 August 2011
IAG’a AA- financial strength rating for its core operating companies has been affirmed by Standard & Poor’s, with a stable outlook…
Hollard joins UAC alliance
08 August 2011
The Underwriting Agencies Council has named Hollard Insurance as its third and final strategic partner…
Ace appoints new accident & health chief
08 August 2011
Andrew Nisbet has been appointed the new Head of Accident & Health for Ace Insurance’s Australia and New Zealand division…
Correction: Affinity Insurance Brokers
08 August 2011
Last week’s bulletin said MGA Insurance Brokers had moved into the Melbourne market with the acquisition of a portfolio from “Affinity Insurance Brokers”…
Suncorp’s Christchurch losses surpass $2 billion
01 August 2011
Suncorp’s gross losses from February’s Christchurch earthquake continue to mount, surpassing $2 billion…
MGA expands to Melbourne
01 August 2011
MGA Insurance Brokers is expanding its reach to Melbourne with the addition of two new offices, establishing the Adelaide-based company as a truly national enterprise…
Ace Australia rating upgraded
01 August 2011
Ratings agency Standard & Poor’s has upgraded its counterparty credit and financial strength ratings for Ace Australia to AA- from A+…
IAG faces Lloyd’s Names fight
01 August 2011
Lloyd’s Names are considering legal action against the management of two Lloyd’s motor syndicates, including one owned by IAG…