Losses continue at Insured Group
05 September 2011
Listed insurer Insured Group has reported a $3.5 million net loss for the 15 months ending June 30, up 216% on the 12 months ending June 30, 2010. During that 12-month period, the loss was…
Corporate
Underwriting agencies in acquisition deal
05 September 2011
Underwriting agency United Underwriting has acquired hospitality specialist Guardian Underwriting…
Tower NZ Chairman steps down
05 September 2011
Tower NZ Chairman Tony Gibbs has resigned and has been replaced by Bill Falconer, who has been a director since 2003…
Suncorp braves blustery conditions
29 August 2011
Suncorp’s general insurance book has weathered the surge in natural catastrophes to record a $392 million profit after tax, but CEO Patrick Snowball says the bottom line “is still not where it should be”…
IAG expects strong growth in year ahead
29 August 2011
IAG expects a strong increase in gross written premium in the year ahead, CEO Mike Wilkins told an investor briefing last week…
Austbrokers posts profit lift
29 August 2011
Broking group Austbrokers has shrugged of a gloomy market to post a 17.5% increase in its after-tax profit to $21.4 million for the year to June 30…
Snowball decides to stick around at Suncorp
29 August 2011
Suncorp Group CEO Patrick Snowball plans to stay in the role until at least 2015, two years beyond his old contract that was due to end on August 31, 2013…
Calliden reports $4 million loss
29 August 2011
Calliden Group has declared a $4.3 million loss for the six months ending June 30 due to the natural catastrophes occurring earlier this year…
Ecclesiastical turns loss around despite disaster claims
29 August 2011
Britain’s Ecclesiastical Insurance Office, the parent of Ansvar Insurance, has reported a first-half profit despite claims from Australian floods and the earthquakes in New Zealand and Japan…
Chartis Asia Pacific appoints advisory board
29 August 2011
Chartis Asia Pacific has established an advisory board to provide guidance and direction to the Singapore-based board of directors…
Cerno acquires building firm
29 August 2011
Major loss adjuster Cerno (formerly MYI Freemans) is expanding its core operations to include construction following the purchase of building consultancy firm Censeo…
OAMPS strengthens position in two states
29 August 2011
Wesfarmers-owned OAMPS has acquired Dubbo-based Lloyd Walker Insurance Brokers and Austnet Group in WA…
Market hammers QBE despite positive performance
22 August 2011
The market has responded negatively to QBE’s half-year figures despite a result CEO Frank O’Halloran describes as “absolutely stunning given the level of catastrophes that the world has experienced in…
QBE flags an exit from underperforming business
22 August 2011
QBE CEO Frank O’Halloran has foreshadowed “getting out of some pockets” of its Australian business that do not meet the insurer’s 15% return on equity target…
QBE explains thinking behind restructure
22 August 2011
QBE has provided additional details on its decision last month to separate its Australia and Asia Pacific (which includes New Zealand) divisions…
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…
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…