NZ insurer pauses to assess exposures
21 March 2011
NZ-based insurer Western Pacific has temporarily halted acceptance of new business while it assesses its risk portfolio…
Corporate
Calliden buys builders’ warranty system
21 March 2011
Calliden is taking full control of the Construction Insurance System that it uses for builders’ warranty insurance…
New UAA chief
21 March 2011
Michael Murphy has been appointed CEO of QBE subsidiary Underwriting Agencies of Australia…
Japan quake: QBE details exposure
14 March 2011
QBE is exposed to about $US125 million ($123.9 million) in net insurance claims from the earthquake and tsunami in Japan…
Munich Re: $1.5 billion in losses from Australia/NZ disasters
14 March 2011
Just a few days before the Japan earthquake and tsunami, Munich Re Chairman Nikolaus von Bomhard warned shareholders the group would only be able to maintain profit if major losses remained below average for the rest of the year…
Zurich to establish executive committee
14 March 2011
Zurich Australia’s diverging general insurance and life operations will remain connected at the top through the creation of an executive committee…
Insurance remains key focus: DLA chief
14 March 2011
Diversified law firm DLA Phillips Fox says its integration with global firm DLA Piper will not dilute its local insurance expertise…
NRMA unveils new commercials
14 March 2011
IAG’s key motoring brands, NRMA Insurance, SGIO and SGIC last night reinvigorated their motor advertising with the launch of a new campaign – “You’re Never Without a Car” – to pitch the benefits of comprehensive insurance cover…
Primacy looks to expand crop yield product
14 March 2011
Primacy Underwriting Agency is developing crop simulation technology to produce yield data for underwriting after discovering the data is no longer available through the Federal Government…
Dual poaches QBE team for NZ foray
07 March 2011
Dual International has opened an office in Auckland after poaching three top executives from QBE’s corporate and specialist risks division in NZ…
Tokio Millennium Re opens Sydney shop
07 March 2011
Bermuda-based reinsurance group Tokio Millennium Re has begun underwriting in Australia following approval from the Australian Prudential Regulation Authority…
Centrepoint Alliance counts cost of merger
07 March 2011
Premium funder Centrepoint Alliance says “significant” half-year losses have been caused by the recent acquisition of Professional Investment Holdings…
QBE sees growth in lenders mortgage cover
07 March 2011
QBE has flagged its lenders mortgage insurance as an avenue for future growth in its Australia Asia Pacific operations…
CV Starr tackles Australia
07 March 2011
Former AIG chairman and Starr International MD Maurice “Hank” Greenberg will cement his company’s position in the Australian market when a subsidiary operation starts work in Sydney next week…
NTI moves into CBD
07 March 2011
National Transport Insurance’s head office and Brisbane base has moved closer to the city, outgrowing its former location in a southern suburb…
Suncorp to sell Brisbane HQ
07 March 2011
Suncorp has announced plans to sell its Brisbane headquarters, the Suncorp Centre, as part of a move to consolidate its Brisbane operations into two locations.…
QBE: income up, profit down
28 February 2011
QBE has reported a 21% rise in gross written premium to $US13.6 billion ($13.4 billion) for the year ending December 31. But the group’s net profits have fallen 17% to $US1.2 billion ($1.1 billion)…
QBE strikes reinsurance deal
28 February 2011
QBE has locked in a favourable new reinsurance program for the next three financial years, starting this year…
Disasters pull Suncorp’s profit down
28 February 2011
Suncorp has blamed a $141 million drop in net profit after tax for the half-year to December 31 on the ongoing impact of natural catastrophes battering Australia and NZ…
IAG profit tumbles on UK loss
28 February 2011
IAG has flagged natural peril claim costs of $540 million for the full year after reporting a net profit of $161 million for the six months to December 31, down 51% due to losses from its UK operations…