WorkSafe Victoria recovers financial footing
08 March 2010
Worksafe Victoria is on track to bypass the horrendous losses of 2008/09, lodging a $686 million net result after tax for the first six months of fiscal 2010…
Corporate
Investors deliver QBE profit rebuke
01 March 2010
The maxim that it takes a lot to satisfy QBE investors was proved yet again on Friday as investors dumped nearly 7% from the insurer’s stock price despite another profitable year…
IAG bounces back to record $329 million profit
01 March 2010
IAG has reported an improved first-half net profit of $329 million due to benign weather, a series of cost-cutting measures and the improved pricing of risk…
Battle has just begun, says Snowball
01 March 2010
Suncorp CEO Patrick Snowball has announced an improved half-year profit of $364 million, but says the Queensland-based bancassurer still has a long journey ahead before…
Analysts blindsided by Suncorp sale
01 March 2010
The divestment of Suncorp’s RACQ and RAA insurance interests has taken analysts by surprise, with the sale expected to net the insurer up to $380 million…
Austbrokers profit rises 7%
01 March 2010
Good returns continue to keep the broking sector in fine health, with Austbrokers last week reporting a 7% increase in half-year net profit to $7.2 million…
Claims, investments cut Calliden bottom line
01 March 2010
Big claims and lower investment returns hit insurer Calliden in the year to December 31, with the company booking a $400,000 net loss compared with a $9.1 million net profit in 2008…
Premium funder books marginal profit
01 March 2010
Premium funding specialist Centrepoint Alliance has reported a slim $1.04 million first-half profit as the company continues its search for a takeover target…
Single pricing won’t lead to conformity: Suncorp
01 March 2010
A Suncorp plan to create a single claims and pricing desk across its general insurance businesses won’t generate a generic suite of identical products…
Perth company moves ahead with NZ listing
01 March 2010
Broking and underwriting agency group Australian Consolidated Insurance Ltd has cleared a major hurdle in its plan to “reverse list” on the New Zealand Stock Exchange…
Insurance sags as Wesfarmers profit plateaus
22 February 2010
Wesfarmers Insurance has tabled a flat earnings period for the first half of fiscal 2010, despite incremental increases in written premiums and a quiet claims period…
Axa APH back on track
22 February 2010
Axa Asia Pacific Holdings has posted a near billion-dollar profit turnaround, buoyed by strong investment returns and improved performance from its southeast Asian…
Lumley gives Nautilus notice
22 February 2010
Lumley is backing out of underwriting pleasurecraft, charter and commercial insurance for Nautilus Marine, giving the company 12 months’ notice of its intention to quit…
Catlin opens Melbourne office
22 February 2010
Specialist underwriter Catlin Australia aims to capitalise on strong local growth by expanding out of its Sydney base and opening an office in Melbourne…
Transit insurance a Kiwi first
22 February 2010
The launch of a new marine transit policy by Associated Marine in New Zealand is being described as a “first”…
Suncorp forecast brightens
15 February 2010
Suncorp first-half net profit is set to increase by up to 45% after rising investment income and benign weather helped propel higher returns from general insurance…
Stellar six months for CommInsure
15 February 2010
Commonwealth Bank of Australia’s insurance division has ridden a wave of profitability in the first half of the 2010 financial year…
Zurich names new CFO
15 February 2010
Zurich Financial Services Australia has announced two changes to its top-level executive team…
Zurich result mirrors global parent
08 February 2010
Zurich Financial Services Australia has mirrored its global parent in recording solid growth among its life insurance and investment portfolios, according to CEO David Smith…
IAG forecasts improved profit margin
08 February 2010
IAG has signalled an improved first-half performance with forecast insurance profit of $488 million, more than double the amount it earned in the same period last year…