Wesfarmers still on the takeover trail
17 November 2008
Wesfarmers Insurance is still going for growth, with Group CEO Richard Goyder describing the economic environment as “likely to benefit well-capitalised businesses such as ours”...
Corporate
Business is booming at Ebix
17 November 2008
International insurance software and online exchange provider Ebix has reported a record third-quarter net profit of $US7.4 million ($11.2 million), 88% higher than last year’s result...
AMI bucks the downward trend
17 November 2008
NZ’s AMI Insurance has bucked the financial trend by posting good results for last financial year – although it doesn’t expect to do so well this year...
AMP set to cut jobs, freeze pay
10 November 2008
An email leaked to insuranceNEWS.com.au shows financial services giant AMP is freezing staff pay and will slash jobs in order to reduce costs...
… and exceeds its capital raising
10 November 2008
Wealth manager AMP has raised more money than it expected through a fully underwritten institutional placement of shares to strengthen its balance sheet...
Suncorp under fire over job cuts rumours
10 November 2008
Unions are demanding Suncorp come clean on the number of jobs it intends to cut across the company...
IAG times Indian venture nicely
10 November 2008
IAG appears to have timed its run into India’s insurance market nicely following recent agreement by Indian cabinet ministers to lift maximum foreign direct investment limits…
IAG grabs top UK executive to head direct division
03 November 2008
After several years of confusion at the top of its direct insurance division, IAG has appointed an experienced manager from the UK direct insurance market to make it perform...
Mansions team moves to SRS
03 November 2008
SRS Insurance has hired three former key managers from Calliden’s Mansions of Australia underwriting agency to manage a new prestige home product...
… as Kiln renews Mansions cover
03 November 2008
Calliden has confirmed that Lloyd’s syndicate RJ Kiln will continue to be the lead Lloyd’s underwriter for Mansions of Australia as the company moves to reposition the prestige…
Vero reshapes home warranty division
03 November 2008
Vero is scaling back its home warranty insurance operations, citing record low levels of investment in residential construction...
PMI Australia becomes QBE Lenders’ Mortgage Insurance
03 November 2008
PMI Australia has changed its name to QBE Lenders’ Mortgage Insurance Ltd after QBE won regulator approval to take over the former US mortgage insurer...
Still no appetite for terrorism risk
03 November 2008
Australian Reinsurance Pool Corporation CEO Neil Weeks says the statutory terrorism reinsurance scheme will be required to operate for at least another three years...
Suncorp execs face shareholder heat
03 November 2008
Suncorp is actively looking for a buyer for its bank and wealth management operations as it seeks ways to settle down its troubled accounts...
Futuris insurance division still going strong
03 November 2008
Rural service and insurance company Elders is performing well despite financial market volatility, according to parent company Futuris...
AIG Australia renewals weather the storm
27 October 2008
Most clients appear to have stuck by AIG Australia despite the recent financial turmoil of its US parent, with the insurer recording a 93% retention rate during October...
Calliden transfers its insurance business into one
27 October 2008
Calliden will consolidate all its insurance business under one licence from November 19...
QBE wraps up PMI deal
27 October 2008
QBE has completed its acquisition of PMI Australia for $US920 million ($1.4 billion) after receiving regulatory approval...
Lumley General Insurance drops the ‘insurance’
27 October 2008
Lumley General Insurance will now be known simply as Lumley General after completing a process to operate under a single licence...
Pacific avoids axe as GE chops businesses
27 October 2008
GE Money’s decision to cut 335 jobs in Australia and New Zealand will have no effect on its premium funding business, Pacific Premium Funding...