NZ CEO counts cost of claims inflation
02 November 2009
IAG NZ CEO Ian Foy says the group’s struggling NZ business is the outcome of an increasingly unprofitable NZ market due to adverse weather, wage inflation and goods inflation…
Corporate
MGA completes PPS purchase
02 November 2009
SA-based MGA Insurance Brokers is close to completing the purchase of Portfolio Planning Solutions, two years after buying 75% of the company…
Claims, investment downturn squeeze AMI
02 November 2009
Weather-related claims and lower investment income bit into net profit at New Zealand general insurer AMI in the 12 months to June 30, driving it down 31% from the previous year…
Snowball shuffles insurance chiefs
26 October 2009
Suncorp CEO Patrick Snowball has put two proven performers in charge of the group’s commercial and personal lines insurance operations in his first significant change…
TIO records worst ever result
26 October 2009
The Territory Insurance Office has reported the worst result in its 30-year history with a loss of $58.6 million…
Dual dumps Lumley for Lloyd’s
26 October 2009
Underwriting agency Dual Australia has ended its underwriting relationship with Lumley Insurance and will instead underwrite solely on behalf of Lloyd’s syndicate Arch…
Chubb results evoke bright prospects
26 October 2009
Chubb Australia is confident about its future after its US parent announced a third-quarter profit increase of 125%…
Senior moves at Ace
26 October 2009
Ace has moved Kenneth Brown from Singapore to Sydney as COO for Australia and NZ…
Suncorp clarifies terms of RAC Insurance sale
26 October 2009
Suncorp has moved to clarify sale terms of its 50% stake in RAC Insurance following the release of the Royal Automobile Club (Western Australia) annual report…
Mecon signs deal with Great Lakes Australia
26 October 2009
Specialist construction and contractor’s plant agency Mecon Insurance has announced an underwriting and claims services deal with Munich Re subsidiary Great Lakes Australia…
Just Car launches mobile phone claims ‘app’
26 October 2009
Niche car insurer Just Car has taken the claims process to the Apple iPhone, launching Australia’s first iClaim application…
Snowball shuffles Suncorp’s executive pack
21 October 2009
New Suncorp CEO Patrick Snowball this morning announced major changes to his senior management team…
Insurance division props up RAC-WA
19 October 2009
The Royal Automobile Club (Western Australia) expects full ownership of RAC Insurance to lead it to greater glory after recording an annual loss of $7.9 million…
Suncorp dismisses Tyndall sale ‘speculation’
19 October 2009
Suncorp has dismissed a report in the Australian Financial Review today that the company may sell its funds management unit Tyndall…
IAG’s Indian venture closer
19 October 2009
IAG has confirmed an Indian media report that “penultimate approval” has been given to its insurance joint venture with the State Bank of India…
Fleet claims drop while costs increase: Lumley
19 October 2009
Major fleet insurer Lumley Insurance has given this year’s best-performance accolade to supermarket giant Woolworths, which it says has “inspired excellence” in fleet risk management…
Carpenter takes a local focus after JLT reshuffle
19 October 2009
Global risk services company Jardine Lloyd Thompson has lured away Aon’s Hong Kong Chairman of Operations to become Regional Chairman of JLT Asia…
Cambridge Australia rebadged as Xchanging
19 October 2009
Global business processor Xchanging has announced its arrival in the local market following its takeover and rebrand of claims service provider Cambridge Australia…
ANZIIF eyes Iraq education initiative
19 October 2009
The Australian and New Zealand Institute of Insurance and Finance may extend its international outreach strategy to war-torn Iraq…
Advertisers hail Youi launch
19 October 2009
The launch of car and home direct insurer Youi has proved a hit with the advertising industry, taking out three gongs for agency Universal McCann in this year’s Media Federation Awards…