The $900 million capital raising Suncorp ‘had to have’
09 February 2009
Analysts are viewing Suncorp’s $900 million capital raising as a necessary exercise, even if the circumstances which prompted it are far from ideal...
Corporate
AMP slashes 300 jobs
09 February 2009
Financial services conglomerate AMP cut a total of 300 jobs in the last quarter of 2008 and isn’t ruling out more redundancies...
Willis employees asked to shape up
09 February 2009
Willis Australasia has confirmed staff will be ranked according to performance measures recently outlined by Global Chairman Joe Plumeri – with poor performers likely to get the boot...
O’Halloran edges closer to fame status
09 February 2009
QBE CEO Frank O’Halloran has been nominated for the International Insurance Society’s (IIS) 2009 Insurance Hall of Fame Awards...
Premium funding staff under cloud as GE sharpens axe
09 February 2009
GE Australia and NZ says it is too early to say if Pacific Premium Funding staff will be among 400 casualties of a major divisional merger...
Sportscover granted Lloyd’s managing agency
02 February 2009
Melbourne-based sports underwriting agency Sportscover has set up a managing agency in the Lloyd’s market, following approval by the UK regulator...
HIH creditors’ payment increased
02 February 2009
Nearly eight years after the collapse of insurer HIH, its insurance creditors have received an increase of 6% in the scheme payment percentage...
Analysts lower QBE’s earnings estimates
02 February 2009
Analysts have lowered their earnings estimates for QBE Insurance as the company prepares to post its 2008 results later this month...
ANZIIF bounces back with Indonesia venture
02 February 2009
The Australian and New Zealand Institute of Insurance and Finance has announced an education partnership with Indonesian insurance and risk management training institution...
Gallagher Bassett takes on Comcover claims
02 February 2009
Claims manager Gallagher Bassett Services has won a contract to administer claims for the Federal Government’s self-insurance fund Comcover for the next three years...
OAMPS branches out in Cairns
02 February 2009
OAMPS Insurance Brokers has bought out Cairns-based John Tannock Insurance Brokers in an attempt to boost its presence in Queensland...
Lumley’s Matcham calls it a day
02 February 2009
Long-serving Lumley General Insurance CEO David Matcham has announced his intention to retire...
IAG sells UK assets
07 January 2009
IAG has sold its under-performing UK assets for £73.5 million ($151 million) as the insurer completes the final step in its major corporate restructure...
Local Willis chief goes to Europe
07 January 2009
Willis Australasia CEO Adam Garrard has been appointed CEO of Willis Continental Europe, with responsibility for operations in Germany, the Netherlands, Switzerland, Austria, Denmark, Finland, Norway and Sweden...
Talks continue on Stardex structure
15 December 2008
Stardex Insurance Group senior managers are expected to increase their shareholdings in the company, with CEO Bob Lee confirming this morning that talks on the future structure…
Axa axes 90 jobs
15 December 2008
Axa Asia Pacific has laid off 90 staff, citing difficulties in the current economic environment...
Management buyout tipped for IAG UK assets
15 December 2008
Managers of IAG companies in the UK are understood to be planning a management buyout of the businesses, according to a UK trade press report...
New agency in $8 million CGU campaign
15 December 2008
CGU Insurance has put its new brand awareness campaign in the hands of advertising agency CumminsNitro Melbourne...
… and 20 top years for professional risks
15 December 2008
Leading professional indemnity insurer CGU Professional Risks has turned 20...
Tower NZ still going strong
15 December 2008
Tower NZ’s financial strength ratings have been affirmed at A-, defying the trend as the country sits knee deep in a recession...