Analyst: QBE ‘shifting focus to US’
12 September 2011
Merrill Lynch research analyst Andrew Kearnan says QBE is becoming “increasingly US-centric” in its search for growth…
Corporate
Wilkins claims IAG’s UK turnaround is on track
12 September 2011
Insurance Australia Group CEO Mike Wilkins says the group’s turnaround strategy for the UK is on target, despite persistent rumours it is looking to offload the underperforming business…
Centrepoint reports $13 million loss
12 September 2011
Centrepoint Alliance has reported a loss of $13.1 million for the 12 months ending June 30, despite revenue being up 2% to $58.3 million…
Swann chief gets another role at CGU
12 September 2011
CGU Insurance has appointed Swann Insurance GM Stuart Chapman as its new CFO…
Terry Ibbotson retires from QBE
05 September 2011
Popular industry stalwart Terry Ibbotson has retired from QBE, stepping down as its Global Head of Distribution…
Western Pacific expects $NZ14 million claim shortfall
05 September 2011
Failed New Zealand insurer Western Pacific is expected to have a claims shortfall of $NZ14.2 million ($11.3 million), according to the latest report to creditors…
Insurers face global storm of issues, says Snowball
05 September 2011
Insurance industry leaders around the world are facing a “global storm” of economic, political and climate issues, according to Suncorp Group CEO Patrick Snowball…
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…
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Tower NZ Chairman Tony Gibbs has resigned and has been replaced by Bill Falconer, who has been a director since 2003…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…