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S&P affirms IAG ratings

01 September 2008

Standard & Poor’s has affirmed its ratings of A+ on IAG and AA- on its core operating companies including IAG New Zealand, based on management initiatives…

New insurance deal for Allianz

01 September 2008

Allianz Australia has announced its second affinity deal in two weeks by agreeing to distribute general insurance products to members of The Greater Building Society...

Contrasts in results for IAG and QBE

25 August 2008

Major insurer IAG has reported a record loss for the June financial year, while one-time suitor QBE has achieved an impressive result in a difficult market...

IAG takes the pain with $261 million loss

25 August 2008

IAG has revealed few surprises in reporting a full-year loss of $261 million, which includes nearly $400 million of restructuring and impairment charges...

QBE zooms in on international markets

25 August 2008

QBE has announced a profit dip of 7% for the first half of the year ending June 30, blaming substantially weaker equity markets and the strengthening of the Australian dollar...

Calliden banks $3.6 million net profit

25 August 2008

Calliden Group’s first-half results are back in black after the insurer reported net profit of $3.6 million, reversing a loss of $600,000 in the corresponding period last year...

New underwriting agency established

25 August 2008

Liability specialist Kevin Corkery will be the senior underwriter of NSW start-up underwriting agency Lawsons Underwriting Australasia...

Tax case puts asbestos fund in jeopardy

25 August 2008

A dispute between manufacturer James Hardie and the Australian Tax Office could affect the company’s contributions to a fund set up to compensate asbestos victims...

‘Pay as you drive’ policy launched

25 August 2008

Hollard Insurance subsidiary Real Insurance has launched a “pay as you drive” policy, under which qualified motorists pay only for the kilometres they plan to travel...

QBE spends $1 billion to buy mortgage insurer

18 August 2008

QBE Insurance is buying the Australian and NZ operations of underperforming US-based PMI Mortgage Insurance, and has agreed in principle to buy PMI’s Asian operations as well...

CommInsure new business soars 102%

18 August 2008

The Commonwealth Bank’s insurance arm CommInsure has recorded a 102% increase in new business among general insurance lines after installing 130 insurance specialists…

Elders profits up 19%

18 August 2008

Rural service company and insurance provider Elders has achieved its best ever result with record profits for the last financial year...

Allianz wins bid to underwrite HSBC insurance

18 August 2008

Allianz Australia has signed with HSBC Bank Australia to provide local bank-branded general insurance products, in a deal that mirrors international arrangements...

Mansions boss fired in dispute over strategy

11 August 2008

Sue Hutchinson, National Manager of underwriting agency Mansions of Australia, has been fired by the agency’s owner Calliden in a dispute over the agency’s future direction...

Axa Asia Pacific net profit falls 75%

11 August 2008

Axa Asia Pacific last week recorded a 75% drop in first-half net profit, though the return of $94.2 million generally beat analysts’ expectations...

Suncorp forecasts 50% drop in net profit

04 August 2008

Suncorp has warned the global credit crunch has combined with stormy weather and markets to depress the company’s full-year net profit by nearly 50%...

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